Participated · Equity · Oct 2020

iFIT Health & Fitness operates a connected fitness and subscription technology platform that combines interactive content (iFIT and Sweat) with branded equipment such as NordicTrack and ProForm. The company delivers live and on‑demand immersive, adaptive workout experiences across a broad range of connected fitness modalities. iFIT reports an engaged community of over 7.3 million members in more than 120 countries and holds more than 400 issued and pending patents. Its proprietary software, experiential content, and interactive hardware are integrated to personalize workouts and drive member engagement. The company says it will use new capital to invest in brands, expand its content library, develop next‑generation products, and implement efficiency measures to increase profitability for reinvestment. Leadership changes accompany the plan: co‑founder Scott Watterson will serve exclusively as chairman while Steve Barr and Mark Watterson are named co‑presidents. iFIT builds an integrated health and fitness platform that connects proprietary software, experiential content, and interactive hardware across brands including NordicTrack, ProForm and Freemotion. The company delivers immersive, adaptive, personalized live and on-demand workouts across a full range of fitness modalities and holds a portfolio of more than 400 active and pending patents. iFIT says it serves a growing community of millions of engaged members across 120 countries and offers trainer-led workouts that stream on partner apps. The company is based in Logan, Utah and emphasizes accessibility and engaging experiences for every fitness level. iFIT has been expanding its content partnerships and distribution to reach users both at home and through partner channels. ICON Health & Fitness develops and distributes connected fitness equipment and subscription software under brands including NordicTrack, ProForm and Freemotion, powered by the iFit live and on‑demand media platform. The company reported revenue exceeding $1 billion in the 12 months ending September 30, 2020, and describes a multi‑decade heritage of innovation, quality and profitability. iFit has approximately 700,000 paid subscribers and is available across ICON’s product range, in the home, at gyms and on the go. ICON holds more than 330 technology patents with 80 pending and sells products in 116 countries; iFit workouts stream in multiple languages with additional languages planned for 2021. The company plans to use the new capital to accelerate its growth strategy of delivering interactive fitness products connected by its patented content technology and media platform.

Led · Equity · Dec 2016

Logicworks launched as a web hosting service in 1993 and moved into managed hosting in the late 1990s. It has since expanded into cloud automation and managed services for enterprises, with a focus on AWS and support for VMware. The company offers managed services for building infrastructure on AWS/VMware, assistance with security and regulatory compliance, and support for modern DevOps and container architectures. Its customers span many verticals and the company is especially strong in healthcare, financial services and commerce. Logicworks sees Datapipe and Rackspace as prime competitors but argues it has stronger automation capabilities and does not have a legacy installed base to defend. The company plans to use the new capital for national and international expansion, product development and potential acquisitions; until today it had raised about $4.6M in outside equity and used $12.5M in debt financing. Logicworks provides enterprise managed hosting, private cloud services, and the infiniCloud dynamic compute platform to media, financial services, healthcare, and SaaS clients. The company emphasizes high‑availability, mission‑critical managed services and over a decade of experience delivering integrated hosting and cloud solutions. infiniCloud was launched in 2010 and already hosts recognized customers including NBC and Kaplan. Logicworks positions its combination of public and private cloud with traditional managed services as a balance of reliability and cost‑effectiveness for enterprises migrating critical applications. The company plans to use new capital to support growth of the infiniCloud platform, expand sales and marketing initiatives, and invest further in software development. Leadership includes President and COO Kenneth Ziegler and founder/Chief Strategy Officer Carter Burden, who continue to serve on the board.

Led · Series B · May 2016

Dyn was founded in 2001 and began with a DNS service called DynDNS, later expanding into a broader suite of products for monitoring online availability, security, and speed. Its customers include Pfizer, Visa, Netflix, and Twitter. The company is launching a new platform that combines online traffic steering with data and analytics to provide a more comprehensive view of performance. Dyn was largely bootstrapped for over a decade before raising a $38 million Series A, and remains primarily a customer-funded business. CEO Jeremy Hitchcock said the company expects to reach more than $100 million in annualized recurring revenue later this year. Management says the funding will help Dyn move faster to capture more of its market opportunity as online services become more global and complex. Dyn provides DNS and email infrastructure services to enterprises and e‑commerce customers, and is best known for its DynDNS product launched in 2001. The company began as a bootstrap at Worcester Polytechnic Institute and expanded from pure DNS into email delivery in 2010, which now has about 15,000 users. Dyn reports more than 4 million users overall, 2,000 enterprise customers and 450,000 e‑commerce clients, and operates 20 data centers globally. It maintains offices in San Francisco and in Brighton and Wrexham, UK. Management says the company will “double down” on its commitment to be the world leader in Infrastructure-as-a-Service and to cement its leadership position in the growing IaaS market. The company recently completed a $38 million Series A to support those plans.

Participated · Equity · Sep 2014

Privia Health provides a turnkey platform combining a high-performance physician group (Privia Medical Group), an accountable care organization (Privia Quality Network), and population health management technology to help providers succeed in performance-based reimbursement. Its cloud-based technology and care management systems give independent physicians access to modern infrastructure, payer relationships, and patient engagement tools. Privia partners with national payers and self-insured plans to align reimbursements to quality and outcomes. The company operates programs that support physician-driven wellness and population health, and its Privia Medical Group serves over 400,000 patients. Privia plans a national expansion into markets including Virginia, Maryland, DC, New York, Atlanta, Florida, and Texas. The business is led by Founder & CEO Jeff Butler and President Dave Rothenberg and will remain physician-focused as it scales. Privia Health operates a physician-based wellness and care management platform that partners with top doctors and provides web-based technology plus virtual wellness teams to support patients between visits. Its model embeds nurse care managers, dietitians, fitness trainers, and health coaches as a virtual extension of the physician practice. The company emphasizes patient-centered medical home principles and turnkey tools that integrate into physician workflows to boost engagement and adherence. Privia combines a state-of-the-art web platform with wireless monitoring and team-based support to track goals, flag care gaps, and monitor outcomes. Privia will use the equity financing to continue rapid growth of its high-performance physician network and to expand direct-to-consumer retail membership offerings. The company also plans to grow its provider/payor-sponsored business through partnerships with progressive health plans, employers, and health systems. More than 200 top-rated physicians currently participate in the Privia High Performance Network, caring for over 400,000 patients nationwide.