The Venture Codex

Participated · Series E · Apr 2016

Transactis offers cloud-based, white-labeled SaaS products for bill presentment, payments and document management, including BillerIQ for electronic bill presentment and payments and DocumentIQ for digital document management and storage. The company sells exclusively through resellers such as financial institutions, technology companies, printers and business process outsourcers, providing white-label solutions plus sales, marketing, technical and operational support. Transactis reports having reached more than 100 million households and businesses in North America. It intends to use the new capital to continue expanding operations. The company has now raised $70M in total funding to date. Transactis is a NYC-based provider of electronic bill presentment and payment solutions. It offers BillerIQ, a cloud-based electronic bill presentment and payment platform delivered as a service, enabling businesses to deliver electronic bills, invoices and documents and accept payments online, by phone and via mobile device. The platform is used across industries including property management, healthcare, insurance, the public sector, utilities and financial services. Transactis sells exclusively through a network of resellers, primarily banks and BPO organizations. The company recently closed an $11M Series D and plans to use the funds to expand sales, marketing and client services and to accelerate product development. To date the company has raised $40M in total and is led by CEO & Chairman Joe Proto. Transactis is a NYC-based provider of electronic billing and payment solutions. Led by CEO and Chairman Joe Proto, the company offers a platform-as-a-service technology to securely process eBills and ePayments for banks and corporations. It serves businesses of all sizes with its BillerIQ solution. The company closed an $8.2M Series C financing to support growth. Transactis intends to use the capital to enhance product features and functionality, invest in sales and marketing support, and add new channels for growth. Transactis provides electronic billing, payment, and marketing SaaS products, including BillMail and BillerExpress, and after acquiring OfferIQ also offers OfferIQ and LoyaltyIQ virtual couponing and loyalty solutions. The company works with banks and their merchants to convert paper-based billing, payment, and coupon transactions into electronic interactions. Founded in 2001 and based in Charlotte, North Carolina, Transactis targets small and medium-sized businesses with affordable invoice distribution and payment collection. Customers include Chase Paymentech, PNC, Wells Fargo, Elevon, and TD Bank. The new capital will be used to drive adoption of its SaaS platforms. Leadership includes CEO Joe Proto and executives Paul Harkins and Scott Cruikshank. Transactis offers Electronic Bill Presentment and Payment (EBPP) solutions that enable secure electronic bill delivery and integrated payment processing. Its core product helps banks and payment processors replace paper bills and payments for small and middle‑market clients. The company emphasizes flexible, integrated payment processing to support client workflows. Management includes Chairman and CEO Joe Proto, who was among the participants in the recent financing. Transactis received a $2.5M capital infusion to provide additional working capital. The funding is intended to support the company’s growing relationships with major banks and payment processors and to accelerate deployment of its EBPP services.

Participated · Series D · Apr 2015

RelSci provides an enterprise platform and database that surfaces relationship intelligence to executive teams across corporate, financial and nonprofit organizations. The platform includes detailed profiles on roughly four million business leaders and about one million organizations, with data on work history, board connections, deal history, education, affiliations, holdings and personal interests. Customers use the product for relationship building, investor relations, new client acquisition, strategic planning, executive/board team building, capital raising, deal sourcing, portfolio/client services, crisis management and client retention. The company serves approximately 600 institutional clients across investment banking, wealth management, private equity, corporate, hedge funds, professional services, creative services, nonprofit, political and legal sectors. Leadership includes founder and new Chairman Neal Goldman and newly appointed CEO Jon Robson. RelSci was founded in 2012 and is based in New York, NY. Relationship Science (RelSci) maintains a database of influential people and organizations, including work history, board connections, deal history, education, donations, affiliations, awards, and familial connections. The platform features relationship-mapping functionality that enables users to discover access points to influential individuals and organizations. RelSci was founded by Neal Goldman and launched in January 2013 and is based in New York City. The company has signed up over 150 client organizations across investment banks, private equity firms, law firms, wealth managers, universities, hedge funds, corporations, consulting firms, and non-profits. RelSci plans to use new capital to increase adoption, accelerate development of new services, create new applications on the platform, and expand the content of its database. Relationship Science operates a cloud-based relationship CRM that aggregates a Rolodex of two million of the wealthiest and most influential people. The product combines manually input data (built by almost 700 people over two years, primarily in India and New York) with an algorithmic component that automatically refreshes updates like personnel moves and new board members. The service assigns connection strength ("strong" or "weak") and suggests the "shortest path" to make introductions, but does not provide phone numbers or email addresses. The platform is currently in beta with some high-profile Wall Street firms signed, though reporters note the technology remains buggy and early in development. Relationship Science charges about $3,000 per year for access and plans to offer massively discounted subscriptions to nonprofits. Founder and CEO Neal Goldman, who previously started CapitalIQ, has said the company has raised $60 million in funding to date as it targets finance, technology, political, and nonprofit customers.

Led · Series D · Nov 2011

CircuLite develops minimally invasive circulatory support systems anchored by Synergy, its miniature ventricular assist system featuring the world’s smallest surgically implanted blood pump for long-term use. Synergy’s Micro‑Pump is the size of a AA battery, circulates up to 4.25 liters per minute, is implanted via a mini‑thoracotomy into a pacemaker‑like pocket, and is intended to reduce the heart’s workload while preserving native cardiac response. The company is pursuing a European commercial launch of Synergy pending CE Mark approval expected in the first half of 2012 and is conducting a CE Mark clinical trial. Proceeds from the Series D will also support U.S. clinical development from a pilot IDE study through initiation of a pivotal trial and will enable a first‑in‑man endovascular system study in Europe. CircuLite says its platform supports a broader pipeline including an endovascular system, a right‑heart system, a pediatric system, and an all‑support system. The company is headquartered in Saddle Brook, N.J. CircuLite develops minimally-invasive implantable devices to provide long-term partial circulatory support. Its lead product, the Synergy Pocket Micro-pump, is a small implantable blood pump intended for patients with Class IIIb and early Class IV heart failure. The company is using proceeds from its financing to complete an ongoing clinical study and to pursue European registration and a commercial launch of Synergy. CircuLite also plans to use funds to initiate Investigational Device Exemption (IDE) trials for Synergy in the United States. The company recently closed a $32.5M Series C financing to support these activities. Management has signaled a near-term focus on clinical completion, regulatory approvals, and market entry in Europe followed by U.S. IDE trials.