Participated · Series A · Jan 2022

Ascend offers payments APIs that automate end-to-end insurance payments and a buy-now-pay-later financing option for commissions and carrier payables. The company’s product is live across all 50 states after initially launching in 20, and it signed its first customer in July. Customers include Vouch, Cowbell, Newfront, Boost Insurance, NFP, LuckyTruck, Rogue Risk, Portal Insurance and Riskwell, representing upwards of $50 billion in total premiums. Offering monthly flexible payments has driven adoption of financing from under 40% to as high as 80% for some partners; one-third of broker-created checkouts convert to sale, and 30% of those convert the same day. Ascend plans to use new equity to grow the team, expand into additional insurtech markets, and build out go-to-market and product engineering. The company was founded by Andrew Wynn and Praveen Chekuri. Ascend provides payments APIs that combine financing, collections and payables to digitize insurance payments and offer point-of-sale financing for commercial premiums. The company is live in 20 states and signed its first customer in July, adding six more customers the following month. Those customers together represent $2.5 billion in premiums. Ascend plans to use the new capital for product development, go-to-market initiatives and hiring in its New York and Palo Alto locations. The team intends to become a licensed full payment processor in all states and aims to operate in all 50 states by year-end. Founders Andrew Wynn and Praveen Chekuri started the company in January 2021 after previously building Sheltr, which was acquired by Hippo in 2019.

Participated · Series B · Jul 2020

Kindbody operates a network of ownership-operated and partner fertility clinics and a technology platform that delivers employer-sponsored family-building benefits across the full reproductive spectrum from preconception through menopause. The company integrates virtual and in-person care and manages services including fertility assessment, preservation, genetic testing, IVF, donor and surrogacy services, adoption support, and mental and emotional care. Kindbody says its direct-provider model saves employers 25%–30% by contracting to deliver comprehensive care, improving cost, experience, and outcomes. It serves 112 large employers covering more than 2.4 million lives and treats patients at 32 signature clinics plus hundreds of partner clinics. Leadership has signaled plans to use strategic investments to expand into geographies with the greatest demand for high-quality fertility care. Kindbody operates a technology-driven network of fertility clinics and provides employer-contracted family-building benefits, delivering both virtual and in-person care. Led by founder and chairwoman Gina Bartasi, the company owns and operates 31 clinics nationwide and contracts directly with employers. In 2022 the company made three strategic acquisitions—including Vios Fertility Institute, a genomics company adding genetic testing and carrier screening, and a gestational surrogacy agency—to expand its end-to-end care model. Kindbody plans to open ten new clinics in 2023 in underserved U.S. markets with the greatest demand for affordable, high-quality fertility healthcare. The company raised $100M in the latest funding round, bringing its valuation to $1.8 billion and total equity and debt funding to more than $290M. It intends to use the proceeds to add new clinics in underserved U.S. markets and to invest in operations to further enhance its care model. Kindbody is a New York City–based fertility and family-building company founded in 2018 that provides fertility, gynecology and family-building services. It operates over 300 locations, including signature and partner clinics as well as mobile clinics. The company’s suite covers egg freezing, IVF, IUI, egg and sperm donation, adoption and surrogacy, maternity care, ongoing gynecology and holistic wellness, plus local and virtual events supporting community education and LGBTQ+ inclusivity. Kindbody also offers a fertility benefit solution to employers. Its proprietary patient portal and electronic medical record platform enable machine-learning to reduce variable decision making among providers and improve outcomes. In June 2021 the company raised $62M in a Series C to accelerate growth, enhance its proprietary technology, and expand access to partner, signature, and mobile clinics. The company is led by CEO Gina Bartasi and a senior leadership team including Annbeth Eschbach, Dr. Lynn Westphal, Meredith Whitney, Cindy Gentry, Shilpa Patel, Dr. Fahimeh Sasan and Richard Forsythe. Kindbody provides end-to-end fertility, gynecology, and family-building care, serving patients from preconception through postpartum. Its services include fertility treatments such as IVF and egg freezing, gynecology, wellness, and LGBTQ+ services. The company operates as both a provider and a network solution, working with employers as a full-service benefits solution and directly with patients. Kindbody leverages proprietary technology to deliver a seamless member experience and data-driven results across its 180+ Kindbody and Center of Excellence (COE) locations. The clinical leadership includes CMO Dr. Lynn Westphal and Founding Ob/Gyn Dr. Fahimeh Sasan, and the company is led by Founder and CEO Gina Bartasi. Following the Series B, Kindbody plans to expand its national footprint and build an international presence through brick-and-mortar locations and a COE network of partner clinics. Kindbody operates pop-up and brick‑and‑mortar fertility clinics and a mobile van that provides free AMH blood tests and directs patients to fuller assessments and services. Its core paid service is egg freezing, priced at $6,000 per cycle (excluding medication costs), below market averages; it also offers IVF and IUI services priced in line with competitors. The company leverages millennial‑focused branding and social media to drive attendance at pop‑ups and mobile clinics. Kindbody plans a “fertility bus” offering full on‑site assessments (AMH test, pelvic ultrasound, specialist consultation) and will use the bus to visit NYC and San Francisco, targeting large employers. With the latest funding, Kindbody will open a second Manhattan clinic, its first permanent San Francisco clinic, and is closing an acquisition for a Los Angeles clinic. The company says it will expand services to include mental health, nutrition and gynecological care; it has raised $22 million to date.

Participated · Seed · Mar 2018

xagent delivers an independent single-entry, multi-quote exchange for standard and surplus lines business insurance across all 50 states. Led by CEO Bryan Baird, the company has released a Beta of its Universal Submission App, an online service providing instant access to business owner insurance from nationally A-rated carriers. More than 600 agencies have registered for the current Beta release. World Insurance and several new Leadership Council agencies are part of the xagent community. Financially, xagent received $1.2M in strategic funding in the reported round, which remains open to qualified agency principals. The company is headquartered in Reston, VA. Xagent provides a 50-state single-entry submission platform for retail P&C agents to expedite market access to a variety of standard and surplus lines insurance for commercial clients. The company is based in Reston, VA and is positioning its Universal Submission App for an upcoming Beta release. More than 500 agencies have registered for the Beta. Xagent closed a $2.1M seed funding round to support its growth. Following the deal, strategic participants such as NFP and Insgroup will be part of Xagent's user community. Terry Scali, CEO of NFP’s P&C division, will join Xagent’s Board of Directors.