Participated · Series B · Feb 2021

Bitwise Industries provides scalable digital solutions, including Salesforce managed services, DocuSign implementations, and custom SaaS offerings, staffed by a representative workforce. The company focuses on building tech economies in underestimated cities and uses its services to create local employment and skills pathways. Bitwise plans to use new funding to expand in current and new locations and to further develop its managed services and SaaS products. It has partnered with the Comer Science & Education Foundation to support expansion to Chicago’s South Side and to strengthen local workforce connections. The company is led by CEO Jake Soberal and is based in Fresno, CA. Financially, Bitwise recently completed a substantial funding round to support its growth initiatives. Bitwise Industries operates paid tech apprenticeship programs and builds buildings to house tech work in underserved cities, leveraging public-private partnerships. The company runs the Digital New Deal (DND) initiative, which has trained over 5,000 individuals. Bitwise connects apprentices to tech opportunities and has expanded its model to serve five cities: Fresno, Bakersfield, Merced, Oakland, and Toledo. Leadership is led by Irma Olguin Jr. and Jake Soberal. The company intends to use the new funding to grow into multiple new markets across the country, beginning with Toledo, Ohio. Financially, Bitwise completed a $50M Series B to support that expansion. Bitwise Industries creates a tech ecosystem focused on activating human potential to elevate underdog cities. It operates three lines of business: Geekwise Academy, which trains people to code with a focus on marginalized groups; commercial real estate that provides workspace for technologists and mission-aligned employers that hire from Geekwise; and Shift3 Technologies, a custom software development shop that pairs senior talent with entry-level programmers from Geekwise Academy. The company uses its integrated model to train talent and supply clients with software services while anchoring local tech hubs. Bitwise intends to use new funding to continue growth in Fresno and to expand to other cities, beginning with Bakersfield, Calif. The company was founded in 2013 by Irma L. Olguin, Jr. and Jake A. Soberal.

Led · Series A · Aug 2020

Kumanu provides a wellbeing platform that blends neuroscience research, behavior design principles and machine learning to help individuals increase resilience and achieve lasting behavior change. The company relaunched an AI-driven purpose activation platform and released its flagship application, Purposeful by Kumanu. Kumanu has formed partnerships with technology companies, health care systems, universities and Medicare plans. The company plans to use new funds to accelerate platform and market development focused on mental and social wellbeing, Social Determinants of Health (SDOH), and the application of purpose science to promote pro-social behaviors tied to inclusion and belonging. Kumanu and strategic investor ProMedica will jointly develop solutions to intervene against SDOH-driven risks such as food insecurity, financial strain, housing, behavioral health, transportation, violence risks and childcare. Jool Health offers JOOL Precision Well-Being™, a digital health solution founded on the science of purposeful living, a behavioral approach tied to improved health outcomes. The platform is associated with reduced risk for heart attack, Alzheimer’s disease, and depression, better self-care of chronic conditions, greater resiliency under stress, and increased productivity with fewer sick days. The company is led by founder and CEO Vic Strecher, PhD, MPH. Jool Health is based in Ann Arbor, Michigan. In April 2017 the company closed a $4.5M seed funding round to support growth. The proceeds are intended to accelerate product development, marketing, and sales efforts, and the company added Robert C. Boylen of CVC to its board.

Participated · Series A · Jan 2020

Socially Determined provides Social Risk Intelligence through its SocialScape® SaaS platform and advisory services, aggregating data and proprietary analytics to reveal where social risk exists and how it affects health outcomes. The platform is designed for payers, life sciences companies, providers and other stakeholders to reduce healthcare disparities and improve engagement. The company has an expanded partnership with CareFirst BlueCross BlueShield to serve CareFirst’s 3.5 million members through an enterprise-wide deployment of SocialScape. Socially Determined said it has gathered data sets on factors like food insecurity, transportation barriers, and financial strain and built analytics and expertise to standardize SDOH assessment at scale. Headquartered in Washington, D.C., it was recently named by Fierce Healthcare as one of the 15 most promising healthcare companies. The company closed a $26 million Series B and will use proceeds to fund product enhancements, sales and marketing, and R&D focused on further technology and platform automation. Socially Determined builds analytics focused on the science and measurement of social determinants of health (SDOH). Its flagship platform, SocialScape®, quantifies social risk and delivers insights into how SDOH affect utilization, cost, and outcomes. The technology is supported by a team of experts who provide SDOH program evaluation, deep cohort analysis, and guidance to clients. The company helps clients grow lines of business into new geographies and risk arrangements through analytic insights. Socially Determined plans to use the Series A proceeds to continue expanding operations and its business reach. The company was co-founded in 2017 by Trenor Williams, MD, Ryan Bosch, MD, and Anthony Beverina and is based in Washington, DC, with a second office in Blacksburg, VA.

Led · Seed · Apr 2018

S4 Medical develops the esolution catheter, a patented device intended to deviate and protect the esophagus during catheter ablation for atrial fibrillation. The company says the esolution device is compatible with electrophysiology systems and has completed first‑in‑human testing and secured intellectual property. S4 plans to use its Series A financing primarily to conduct an Investigational Device Exemption (IDE) study estimated to begin in July 2021 as it advances toward commercialization. The team includes cofounders Emile Daoud, MD (Chief Medical Officer and Electrophysiology Section Chief at The Ohio State University) and CEO William Fuller. Since its founding in late 2017, S4 has reported rapid progress on regulatory and technical milestones. The company positions the esolution catheter as a comprehensive solution to reduce esophageal complications during AF ablation. S4 Medical is a Columbus, Ohio-based medical device company developing the ESolution device to protect the esophagus from thermal damage during catheter ablation. ESolution is inserted through the mouth into the esophagus and uses a proprietary method to deviate the esophagus away from potential thermal injury. The company completed its first human studies in seven patients in Argentina. S4 Medical is led by co-inventor and co-founder Dr. Emile Daoud and co-founder and CEO William Fuller. The company recently secured additional, undisclosed funding to continue development of its device. Backers include investors such as the Ohio Innovation Fund and ProMedica. Sotera Medical Corp. is developing a novel medical device intended to protect the esophagus during catheter ablation procedures for atrial fibrillation. The company’s initial product is described as a simple, comprehensive solution aimed at reducing esophageal complications from ablation. Sotera’s founding team includes CEO and co-founder William Fuller and co-founder Dr. Emile Daoud, director of electrophysiology at The Ohio State University Wexner Medical Center. The company closed initial seed funding in excess of $1 million to accelerate technological development. Proceeds are intended to support further development and to advance toward first-in-human testing by late 2018. The team positions the device as addressing an important unmet need to improve patient safety and outcomes during AF treatment.

Led · Equity · Mar 2018

Tela Bio develops regenerative surgical implants. The company is based in Malvern, Pennsylvania. According to a recent SEC filing, Tela Bio has raised more than $2 million in investments. The firm had sought to raise a total of $3 million, per its SEC Form D filed Dec. 4. The article does not disclose investors, terms, or operating metrics beyond the fundraising figures. Tela Bio, Inc., based in Malvern, Pa., develops and commercializes OviTex Reinforced BioScaffolds (RBSs) for soft tissue repair. OviTex RBSs integrate biologic material derived from ovine rumen with a synthetic polymer in an embroidered construction that allows free movement of fluid and cells and supports functional tissue remodeling while providing strength and improved handling. The company first commercialized OviTex in July 2016 and has completed over 1,800 implantations to date across a range of hernia procedures and surgical techniques. Tela Bio and ProMedica Innovations plan to explore a strategic partnership in research and education with surgical specialists at the ProMedica Hernia Center. ProMedica Innovations Venture Fund has agreed to invest $1M, with the first half closing immediately and a second tranche contingent on revenue milestones outlined in the agreement. Antony Koblish is president and CEO. Tela Bio develops and markets the OviTex portfolio of surgical implants for ventral hernia repair and abdominal wall reconstruction. Its OviTex Reinforced BioScaffold (RBS) integrates biologic and synthetic materials in an embroidered construction that allows free movement of fluid and cells through the construct. OviTex RBS products have been used in over 1,000 implantations across a wide range of hernia patients and surgical techniques. TELA Bio holds exclusive commercial rights to OviTex for hernia repair and abdominal wall and breast reconstruction in the U.S. and European markets. The company plans to use new funding to scale clinical and commercial efforts and to develop OviTex products designed for additional soft tissue procedures such as breast reconstruction. Antony Koblish is the company's president and chief executive officer. TELA Bio is a stealth surgical reconstruction company reported to be working in regenerative/orthobiologic graft materials. The company is described in filings as led by Antony Koblish, who previously led Orthovita. Other board members noted in reporting include Kevin Rakin (former Advanced BioHealing CEO) and Maarten Persenaire (former Orthovita chief medical officer). The startup raised $45.3 million in equity according to a regulatory filing and has prior financings of $16.1 million (2012) and $6.0 million (2013). Reported directors include OrbiMed venture partner Vince Burgess and Adele Oliva of 1315 Capital. The company is based in Pennsylvania and remains largely stealthy; reporters say TELA Bio has not responded to inquiries about its technology or plans. Further public detail about products, commercialization plans, or operating metrics was not disclosed in the article.