The Venture Codex

Participated · Equity · May 2023

Intrinsic is a New York-based omni-channel consumer health company led by CEO Yadin Shemmer. The firm acquires, builds, and grows brands that serve women, expanding their global reach by opening new distribution channels across eCommerce, retail, and healthcare. After acquiring a women’s health brand, Intrinsic expands reach through channel expansion, new product development, and connected marketing to engage women across the consumer and patient journey. The company leverages proprietary analytics to provide automation and insights that enable fast action and decisions across acquisitions, marketing, and supply chain. Intrinsic raised $15M in the latest funding round, bringing total capital raised to $128M. The company intends to use the funds to expand operations and broaden its business reach. Intrinsic is an acquisition and growth platform that buys and scales eCommerce-native health and wellness brands selling on Amazon and other channels. The company focuses on categories including Pregnancy & Baby, Healthy Aging, Orthopedics, Digestive Health, Immune Support, Eye Health and Skin Care. It provides capital plus healthcare marketing expertise, supply-chain support and advanced analytics to acquired brands. Intrinsic was founded earlier this year in partnership with Redesign Health and is led by co-founder and CEO Yadin Shemmer. The company has created a medical advisory board to counsel on acquisitions and innovation, with founding members from ophthalmology, OB/GYN, internal medicine, physical medicine and veterinary medicine. Intrinsic is partnering with Dr. Mehmet Oz and Tony Robbins as investors and strategic advisors. Intrinsic raised $113M in a Series A, bringing total capital raised to $115M.

Participated · Equity · Apr 2022

Recurrent is a software-only platform that analyzes EV battery health and produces standardized battery-health scores for consumers and dealerships. It ingests data from thousands of EVs daily and normalizes for driving behavior, charging patterns, and weather to enable apples-to-apples comparisons between used vehicles. Its battery health scores are displayed on consumer sites such as Edmunds.com and Cars.com, and the platform has attracted over 20,000 drivers. Recurrent’s mission is to give used EV buyers clearer insights into range dynamics and how batteries degrade over time. Founded in 2020 and based in Seattle, the company plans to bolster its used EV battery reporting capabilities following a recent fundraise. The startup reports a remarkable revenue surge and the CEO forecasts a tenfold expansion in the used EV sector over the next five years. Recurrent provides comprehensive EV battery reports that display Excellent/Good/Fair ratings and quantify a vehicle’s current range relative to its original range. Its reports are used by dealers, wholesalers and individual buyers to add transparency to the pre-owned EV market. The company says the new funding will be used to scale its product and further enhance features for corporate clients and EV owners. Recurrent has begun partnerships to deploy its ratings on dealer lots and in digital wholesale auctions. Del Grande Dealer Group will feature Recurrent ratings across its 19 rooftops, and a large used-auto wholesale auction provider will add ratings to its digital auctions. Recurrent was founded in 2020 and is headquartered in Seattle. Recurrent provides third-party battery life and range reports to help buyers evaluate used electric vehicles. The startup collects real-world driving data from contributors and has nearly 3,000 EV drivers contributing data and has collected nearly 6 million individual data points. Recurrent launched in September as a spinout of Pioneer Square Labs and is led by co-founders CEO Scott Case and CTO Kyle Rippey. It has 11 employees and in December raised a $3.5 million seed round. The company is building what it describes as the largest real-world database of EV ranges and plans to expand contributor recruitment and validate vehicle battery data against hands-on diagnostics. The business benefits from rising used-EV prices — Recurrent reports used EV prices increased by about $1,500 on average over the past two months. Recurrent builds third-party battery condition reports for used electric-vehicle shoppers and monthly battery-analytics reports for EV owners. The company collects its data from roughly 2,500 volunteer EV drivers who use the Recurrent service. Recurrent says its product helps bring transparency to the growing used-EV market by verifying battery life and range. The startup will use the new financing to invest in continued product development as it refines its condition reports and battery analytics. Investors emphasized market timing given rising used-EV sales and favorable policy tailwinds for EV adoption.