Participated · Equity · Mar 2020

Lendio operates a high-tech marketplace that matches small-business borrowers with a pool of suitable lenders via a 15-minute online application, machine learning matching, and expert loan review—often facilitating funding within 24 hours. The company also offers an online bookkeeping platform, Sunrise by Lendio, used by hundreds of small-business owners and slated for deeper integration with its loan marketplace. Lendio plans to use new capital to expand its lender services division, enhance its white-labeled SaaS application for banks and lenders, and grow bookkeeping and lender-facing offerings. Over the past two years Lendio’s year-over-year growth has averaged 75%, and it has become the largest small-business financing marketplace in the U.S. To date the company has facilitated over 100,000 loans totaling $2 billion. Lendio reports that its small-business clients have generated an estimated $6.5 billion in economic output and created nearly 45,000 jobs. Lendio is a Salt Lake City, UT-based online marketplace that helps small-business owners find short-term specialty loans and long-term low-interest traditional loans. The company offers a free online service intended to decrease the time and effort it takes to secure funding. Led by founder and CEO Brock Blake, Lendio connects borrowers with loan options via its platform. In Q3 2016 the platform facilitated over $63M in loans to more than 2,900 businesses across 46 states. The company intends to use recent funding to accelerate growth through marketing, sales and brand awareness. Lendio operates a free online marketplace that matches small business owners with a range of loan products, from short-term specialty financing to long-term low-interest loans, delivered within minutes. The company is led by founder and CEO Brock Blake. In March 2015 Lendio raised $20.5M in funding to support growth. Management says the proceeds will be used to accelerate online innovation, expand its partnership program and grow its team of trusted loan advisors. The company also announced board additions tied to the round. No operating metrics or prior financing details are provided in the article. Lendio, founded by Brock Blake and Levi King in 2011, operates a marketplace that helps Main Street small businesses find suitable loans and lenders. The platform aggregates more than 3,500 loan options across hundreds of partner lenders and asks business owners four questions to build a profile and surface appropriate products. It integrates via APIs with tech-savvy lenders to enable often same-day pre-approval and to streamline underwriting handoffs. Lendio says it has helped hundreds of thousands of small business owners connect with loans and reports roughly a 70% approval rate for applicants; the platform also offers tools to help unapproved applicants prepare. The company positions itself as a next-gen broker that reduces friction and cuts out traditional middlemen. Financially, Lendio recently closed new financing that increased its total invested capital. Lendio, formerly FundingUniverse.com, operates a marketplace that connects small-business owners with banks, credit unions, and other lending sources. The platform uses technology to identify loan categories and the specific lenders most likely to approve an application based on credit, industry, revenue, and other parameters. Less than three months after its debut, users had requested about $1 billion in business loans through the service. Lendio says it works with roughly 3,500 lenders and provides access to more than 13,000 lending options. The company has been expanding its executive team, adding hires such as Zinch co-founder Brad Hagen and Nelson James of SEO.com. It has also offered promotional pricing to early users (e.g., a TechCrunch reader discount) as it scales adoption.

Led · Series B · Feb 2020

Kasisto builds KAI, a conversational and generative AI platform for the financial services industry. The platform includes virtual assistants and KAI Answers, which gives employees immediate access to accurate information drawn from an institution’s knowledge base. KAI Answers enables virtual assistants to leverage generative AI to produce precise responses from internal and public-facing documents, streamlining customer service and reducing time to locate critical data. Kasisto’s customers include global banks such as J.P. Morgan, Westpac, Standard Chartered, TD, and Nedbank, as well as U.S. community banks and credit unions. The company says the platform is engaging millions of consumers worldwide across multiple channels and languages and is optimized for performance, scalability, security, and compliance. Kasisto recently closed a Series D that brings total funding to $90 million and appointed Don Layden as Executive Chairman; it plans to use the capital and strengthened leadership to accelerate innovation, expand market presence, and further integrate conversational and generative AI to help frontline bankers and operational staff. Kasisto offers KAI, a digital experience platform integrated into the fintech ecosystem through partnerships with providers such as FIS, NCR and Q2. The company serves customers including J.P. Morgan, Westpac, Standard Chartered, TD, Manulife Bank and credit unions like Fairwinds and Excite. Kasisto plans to use new funding to continue investing in product development, strategic go-to-market initiatives, and to expand partnerships with top financial services providers. The company is led by co-founder and CEO Zor Gorelov. Kasisto is NYC-based and also has offices in Silicon Valley and Singapore. Recent financing activity indicates ongoing external investor support for its platform and partnerships. Kasisto develops KAI, a conversational AI-powered digital experience platform for financial services firms. Led by CEO Zor Gorelov, the platform is built to engage millions of consumers worldwide across multiple channels and languages and is optimized for performance, scalability, security, and compliance. Customers named in the article include J.P. Morgan, Westpac, Standard Chartered, TD, Manulife Bank and credit unions such as Fairwinds and Excite. The company closed a $15.5M Series C round, bringing total funding to date to $67M. In conjunction with the round, Mike Abbaei, Co-Founder & Managing Partner at Naples Technology Ventures, will join Kasisto’s board. Kasisto intends to use the funds to accelerate growth with investments in sales, business development, marketing, strategy and customer success. The company is based in New York City and also has offices in Silicon Valley and Singapore. Kasisto provides a digital experience platform for the financial services industry, engaging with millions of consumers around the world across multiple channels and languages. The platform is optimized for performance, scalability, security, and compliance. The company plans to use proceeds from the recent investment to expand its global field organization and accelerate its go-to-market strategy. Kasisto received a $7M investment from Napier Park Financial Partners as part of a Series B extension that brought the round's total to $22M. Founded in 2013 and led by CEO Zor Gorelov, Kasisto is NYC-based with offices in Silicon Valley and Singapore. Customers include DBS Bank, J.P. Morgan Chase, Mastercard, Standard Chartered, TD, and Manulife Bank. Kasisto develops KAI, an open conversational AI platform trained in the language of banking and finance to power human-like virtual assistants for financial institutions. KAI includes enterprise tools to customize, measure, train, and improve virtual assistants and meets the needs of demanding financial services organizations. The company reports global production deployments of its intelligent virtual assistants in more banks than any other company. Customers include J.P. Morgan, Mastercard, Standard Chartered, TD, and DBS. Founded in 2013 and led by CEO Zor Gorelov, Kasisto is based in New York City and also has offices in Silicon Valley and Singapore. The company intends to use new funding to expand adoption of its services across all segments of the financial services industry.

Led · Series D · Nov 2019

DadeSystems offers an enterprise SaaS platform (DadePay) that automates the invoice-to-cash process and reconciles payments and remittances to open invoices using patented technologies and machine learning. Its DadePay suite captures all incoming payment types — cash, checks, ACH, EFT, and credit cards — and includes an ePayment customer portal and a Mobile AR application. The platform integrates with customers’ ERP systems and serves multiple industries, including B2B and C2B. Company leadership says the new investment will support expansion of the DadeSystems product suite and continued technology investment to improve efficiencies for businesses. Wells Fargo Strategic Capital described the investment as support during an important stage of DadeSystems’ lifecycle. The company is based in Miami, Florida. DadeSystems offers DadePay, a SaaS suite that aggregates, analyzes and reconciles remittances for any payment type and channel, and includes an ePayment customer portal and Mobile AR application. The platform uses patented technologies and AI/machine learning to automatically match payments to open invoices and update customers' ERP systems, enabling higher invoice matching and straight-through-processing rates. DadeSystems serves B2B and C2B payments across multiple industries, including distribution, food and beverage, manufacturing, financial services, transportation, wholesale, property management, healthcare, retail, travel and agriculture. The company has expanded reach through partnerships with Fiserv, Deluxe, Fifth Third Bank and Transactis. Proceeds from the recent raise will be used to invest in product and technology and to grow the team, supporting further adoption of DadePay. The company highlights recognition from research firms Celent and Aite. DadeSystems provides an integrated receivables platform centered on its DadePay SaaS suite, which includes AR Automation, an ePayment customer portal, and a Mobile AR application. DadePay AR Automation automatically captures incoming payments (cash, checks, ACH, EFT and credit cards), uses patented technologies and machine learning to match payments to open invoices, and updates companies' ERP systems. The platform electronically transmits checks to the bank for immediate deposit and the mobile app lets field staff capture check images and remittances for immediate processing. DadeSystems serves clients across banking, distribution, food and beverage, manufacturing, transportation, wholesale, property management, health care, retail, travel and agriculture. Led by president and CEO Bill Zayas, the company intends to use new funding to expand product engineering and support efforts. The product suite is offered as a single enterprise solution. DadeSystems offers a SaaS enterprise platform for accounts receivable automation, led by CEO Bill Zayas. Its core products include DadePay AR Automation, which captures incoming payments (cash, checks, ACH, EFT, credit cards), matches them to open invoices using patented technologies, and updates customers' ERP systems. The company also provides an ePayment customer portal and a mobile application that support ACH and credit-card payments, send payment notifications, and allow capture and electronic transmission of check images and remittances. DadeSystems serves multiple industries including distribution, food and beverage, manufacturing, financial services, transportation, wholesale, property management, healthcare, retail, travel and agriculture. The company secured $2M in funding to accelerate engineering and product enhancements. It plans to use the proceeds to expand the sales team, digital marketing, and client services.

Led · Series A · Oct 2019

7shifts is an end-to-end technology platform built to simplify team management for restaurants. Led by CEO Jordan Boesch, its features include scheduling, team communication, task management and tip pooling to drive operational efficiency and engagement. The platform enables employees to receive schedules, trade shifts and manage tasks. It is used by more than 650,000 restaurant pros across 27,000 locations worldwide. The company plans to use the funding to double the size of its team and continue building products across the employee lifecycle. Those products aim to connect hiring, onboarding, training, scheduling, paying and retention for restaurant operators. 7shifts is a labor management platform for restaurants headquartered in Saskatoon with offices in Toronto and New Jersey. The platform provides scheduling, employee communication, and broader labor management tools for restaurant teams. It is used by over 500,000 restaurant professionals across 18,000 locations in North America, Europe, the Middle East and Australia. The company plans to use the Series B proceeds to scale its team and expand its product offering, including deepening scheduling and employee communication capabilities. 7shifts also intends to accelerate technology integrations to provide a more holistic view of a business and roll out next-generation tools purpose-built for restaurateurs and their teams. Founded in 2014 and led by CEO Jordan Boesch, 7shifts focuses on building tools specifically for restaurant operations. 7shifts provides a labor management platform for restaurants that simplifies team scheduling, labor budgeting, communication, and regulatory compliance. The product is used by over 350,000 restaurant pros and schedules more than 7 million shifts per month. The company says its platform delivers thousands of hours saved on schedule administration and about $12 million per month in labor cost savings for customers. Since January 2019 it has more than doubled the number of restaurants signing up each month and also doubled the size of its team. 7shifts has recently added key hires (including a VP Partnerships) and expanded its partner integrations—adding 10 new partners, debuting in the ADP Marketplace, and integrating with Revel POS. The company was founded in Saskatoon in 2014 and also has offices in Toronto, and plans to accelerate development of its partner integration network and compliance functionality. 7shifts offers an interoperable labor-management suite for restaurants that makes scheduling, team communication, and shift feedback simple and transparent via desktop and smartphone. The platform includes scheduling automation, POS integrations, and predictive machine-learning scheduling that the company says can project sales with up to 95% accuracy. 7shifts reports it has scheduled nearly 100 million shifts for the 16 million restaurant workers in the U.S., saved restaurateurs over $200 million in labor costs, and is used by more than 250,000 restaurant professionals across 10,000 restaurants. Customers include multi-unit and franchise operators such as Bareburger, Panera, Honeygrow, &pizza and Smoke's Poutinerie. The company plans to use growth capital to strengthen scheduling automation and machine-learning technology while adding enterprise functionality and statewide labor-compliance features. Founded in Saskatoon in 2014 with offices in Toronto, 7shifts is used across North America, Europe, the Middle East and Australia. 7shifts provides a restaurant employee scheduling solution that helps managers optimize workforce allocation. The platform is dynamic and mobile-first, also accessible via desktop and designed to require no training. It manages more than 150,000 restaurant workers across North America, Europe, the Middle East and Australia. Customers include multi-unit restaurant groups such as Xi’an Famous Foods, Andy’s Frozen Custard and Black Rock Coffee Bar. Founded in 2013 by CEO Jordan Boesch and based in Saskatoon, Canada, the company has raised a total of US$4.5M. 7shifts intends to use the new capital to build out its infrastructure to support further growth.

Participated · Series E · Sep 2019

TouchBistro is an iPad-based restaurant management platform serving restaurants with tools to manage their operations. The company secured $110 million in growth financing from Francisco Partners. The capital will be used to accelerate growth, expand its product pipeline and pursue strategic acquisitions. The financing is described in the article as growth financing and was reported in TechCrunch's Daily Crunch. The raise is intended to fund both product development and inorganic expansion plans. TouchBistro is an iPad POS and integrated payments solution built specifically for the restaurant industry. More than 16,000 restaurants in over 100 countries use its platform, which processes over US$11 billion annually. The product handles order taking, payment processing, menu management, accounting, reporting, inventory management, staff scheduling, and customer loyalty. TouchBistro emphasizes software automation, predictive data insights, and seamless access to financial services through partnerships. The company plans to use the new funds to acquire complementary products, support technology development, expand international markets, and grow its team. It offers in-depth training and free 24/7 technical support and maintains offices in Toronto, New York, Austin, Chicago, London, and Mexico City. TouchBistro offers an iPad POS that serves as the core of a restaurant’s operations, handling order taking, payments, menu management, accounting, reporting, inventory, scheduling and loyalty. Led by founder and CEO Alex Barrotti, the company serves more than 12,000 restaurants in over 100 countries and processes more than US$6 billion annually. The company is based in Toronto and also maintains offices in New York, Austin, Chicago, London and Mexico City. TouchBistro plans to use new funding to develop its restaurant operating system, build new payment solutions, expand into new and existing markets, and double the size of its team over the next year. The product is positioned as an all-in-one operational platform for restaurants, integrating both front-of-house and back-office functions. TouchBistro offers an iPad POS app that lets servers enter table-side orders, send them directly to the kitchen, and accept integrated EMV payments. The product targets restaurants, bars, cafes, breweries, food trucks and quick service restaurants to increase sales and improve customer experience. The app is deployed in over 9,000 restaurants across 37 countries. TouchBistro plans to use its new capital to enhance and expand the feature set of its mPOS solution and to facilitate expansion into global markets. The company is led by founder and CEO Alex Barrotti and has offices in New York, Toronto, Chicago and Austin. Financially, TouchBistro has raised CDN$16.3M in this Series C and has raised CDN$45.3M in total funding to date. TouchBistro offers an iPad POS app and full reporting suite for the food and drink industry, serving full-service and quick-service restaurants, food trucks, coffee shops and bars. Servers use the app to take tableside orders that are instantly transmitted to the kitchen and bar; bills can be split and totals transferred electronically to integrated card keypads or mobile wallets. The company has deployed approximately 15,000 terminals across 6,000 restaurants worldwide and processes gross merchandise volumes in excess of $4 billion annually. Recent product moves include launches in Spanish and French and integrations with QuickBooks and Square. Led by founder and CEO Alex Barrotti, TouchBistro plans to use its new funding to expand sales and marketing and to build out its POS platform through partnerships and new features. The company has raised $30m in total funding to date.