Participated · Series B · Dec 2020

Centivo builds employer-focused, primary care-centered health plans that combine an in-house virtual primary care practice (Centivo Care), direct contracts with accountable care organizations (ACOs) in 18 major markets, and a tech-enabled member engagement and plan administration platform. The company says its model can lower total cost of care by 30% or more, typically saves employers 15% or more, and increased utilization of primary and specialty care. In 2023 Centivo’s health plans achieved a 71% reduction in member out-of-pocket costs compared to the plans they replaced, and the company says its approach reduces annual employee out-of-pocket costs by nearly $1,200. Following Centivo’s acquisition of virtual-first medical provider Eden Health in May, the company expanded its PCMH-certified virtual primary care capabilities and integrated behavioral health into its platform. Centivo serves Americans in all 50 states across a diverse set of industries and plans to use recent capital to enhance and scale its product and technology and forge new strategic partnerships with health systems. Its stated mission is to bring affordable, high-quality healthcare to working families by curbing inefficiency and waste in employer-sponsored plans. Centivo offers health plans for self-insured employers anchored around relationships with accountable care providers and a primary-care-centered clinical model. Its plan designs include free adult and pediatric primary care for all visits, no deductibles, predictable copays for non-primary care, and integrated virtual primary care. Centivo says employers typically save 15–30% annually versus traditional insurance and that members’ medical and pharmacy out-of-pocket costs average under $350 per person per year. The company reports primary care utilization has increased by more than 30% while quality and member satisfaction have strengthened. Centivo serves employers ranging from 51 employees to Fortune 500 companies and has a market presence in 13 states. The company launched in 2019 and is pursuing rapid growth and expansion amid increased employer demand. Centivo is a Buffalo, NY-based health plan company led by CEO Ashok Subramanian. Its core product is a health plan anchored around providers of value-based care for self-funded employers. The company serves employer clients ranging in size from 100 employees to Fortune 500 companies. It recently launched a fully integrated virtual primary care-centered health plan in Florida. Centivo plans to use new funding for growth, expansion and development of products and services, including its virtual primary care-centered plan. By the end of 2022 the company’s health plan will be available in half of the top 20 metropolitan areas in the country, and it has a new strategic distribution arrangement with the Business Health Care Group in eastern Wisconsin. Centivo provides a benefits solution built for self-funded employers, offering affordable and predictable costs, a technology-driven member experience, and a range of benefit options including traditional and proprietary networks. The company develops high-value networks in partnership with local healthcare providers and uses data analytics to refine networks and direct members to appropriate providers. Members receive a primary care–centered model with expanded access and fully integrated virtual care. Provider partners include health systems such as Mount Sinai Health System, Orlando Health, Scripps Health, and UCLA Health, as well as independent practices. Centivo’s solution is available to mid-sized and large employers in New York, New Jersey, Connecticut, Southern California, Florida, and North Carolina, with plans to expand to additional markets in 2021. The company is led by CEO and co-founder Ashok Subramanian and has offices in Stamford, CT; Buffalo, NY; and New York, NY. Centivo is a New York City–based, new type of self-funded health plan built specifically for employers and their employees and families. Led by CEO and co-founder Ashok Subramanian, the company serves as a health plan or third-party administrator and partners closely with local health plans and TPAs to enhance offerings. Its model centers on an innovative primary care–centered network focused on outcomes, a dynamic benefit design that rewards members for high-value care and adherence, and a digital technology platform and concierge support to improve care and experience. Centivo is launching its product for the 2019 plan year, focusing on employers with employees in New York, New Jersey, Connecticut, and select other markets. The company plans to deploy capital to build technology and infrastructure, develop local partnerships, and support market launch.

Led · Convertible Note · Nov 2018

BeetNPath offers a frozen entrée product line and earlier in 2018 updated its brand look and feel and introduced new packaging for that line. The company is an existing portfolio company of Rand Capital. In the third quarter of 2018 Rand Capital supported BeetNPath’s ongoing growth with a financing. That financing was a convertible secured note. The article does not disclose operating metrics, founding year, location, or additional financial details for BeetNPath. Grainful is an Ithaca, New York-based frozen food and meal kit company centered on savory oat-based entrees. It launched a line of savory oat-based frozen entrees including Vegetarian Chili, Unstuffed Pepper, Porcini Mushroom Chicken, and Tuscan Bean & Kale. In 2016 the company added a shelf-stable meal kit product line targeting the speed-scratch market (30 minutes or less). Products are sold online through the Grainful store and Amazon, and are carried by leading retailers across the nation. Led by co-founder and president Jan Pajerski, Grainful raised $3.3m and intends to use the funds to grow operations and expand its product offerings.

Participated · Series D · Nov 2017

Tilson provides network deployment and information system professional services, offering real-estate entitlement, engineering, construction and operational capabilities to telecom, construction, utility and government clients. The company focuses on nationwide network infrastructure design-build services and supports large-scale projects such as national 5G rollouts and IoT deployments. Tilson is spinning out and capitalizing an asset ownership affiliate, SQF, LLC, which owns and develops telecommunications assets in public rights-of-way and operates as a pole owner and solutions provider for 5G. SQF is supported by Tilson’s capabilities to provide options from single-site design-build to fully outsourced deployment and nationwide management. The company has over 550 employees across 23 offices and has been recognized eight consecutive years on the Inc. 5000. The recent investment from SDC will be used to drive Tilson’s expansion and scale its small cell infrastructure development and related services. Tilson Technology is an IT-services firm that builds telecommunications networks and deploys information-technology software. Under CEO Joshua Broder (appointed 2009) the company expanded from 10 employees to 360 across 14 offices worldwide, with 65 employees in Portland. The company reported $37 million in 2016 revenue and projected roughly $45 million for 2017, a 21.6% increase. Tilson has secured an additional $100 million in recently awarded contracts and is using new funding to finance growth tied to those contracts. The company has committed to a new five-story Portland headquarters on Middle Street. Tilson has appeared on Inc. magazine’s list of the 5,000 fastest-growing private companies for six consecutive years. Tilson Technology Management is a provider of information technology professional services and network construction solutions. The company operates in two capacity-constrained service markets: telecommunications facilities development for cellular, smart grid and government, and consulting, software development and information systems deployment specializing in construction applications. It is led by CEO and majority owner Joshua Broder. Tilson raised $2.2M in funding to support growth. The company intends to use the proceeds to expand into new markets organically and through acquisitions of adjacent businesses. It is based in Portland, ME.

Participated · Equity · Jul 2017

Genicon designs, makes and distributes patented surgical instrumentation focused exclusively on laparoscopic, or minimally invasive, surgery. The company is led by Gary W. Haberland, Founder, President and Chief Executive Officer, and is based in Winter Park, Florida. Genicon has been developing new products including the aquas powerflow, a battery-powered suction irrigation product, and the a li-gator disposable clip applier for ergonomic wound closure with titanium clips. The company raised $6.6M in funding and intends to use the capital to continue product development and to execute on marketing, manufacturing and sales efforts. Backers on the round included Rand Capital, Advantage Capital and Coastal Enterprises. GENICON designs, produces, and distributes patented surgical instrumentation focused exclusively on laparoscopic, or minimally invasive, surgery. The company is privately held and was founded in 1998; several shareholders are surgeons who use its products. GENICON is building a new operations center and has earmarked capital to purchase state-of-the-art manufacturing equipment to meet growing demand. Once completed, the facility is expected to increase production capacity by a factor of six and improve profitability through more efficient manufacturing processes. The company is described in the release as an emerging leader in the global market for laparoscopic medical devices. GENICON is based in Orlando, FL. GENICON designs, manufactures and globally distributes more than 200 products in the laparoscopic surgery market. Headquartered in Winter Park, Fla., the company sells directly in the U.S. and through long-standing distribution agreements in over 60 international markets, including the U.K., Italy, Spain, South Korea, South Africa, the Middle East and China. In 2014 GENICON received the President’s “E” Award for Exports from the U.S. Department of Commerce. The company is pursuing facility expansion and central Florida workforce growth to support planned product expansion into complementary offerings. Management says the new capital will drive the company to the next level of revenue and profitability, and a board member representing Series A investors tied the financing to continued double-digit revenue growth. Gary Haberland is named as founder and CEO in the article.

Participated · Seed · Apr 2017

PostProcess Technologies develops automated, software-driven post-processing systems for 3D-printed parts that address support removal, surface finishing, and resin removal. Its technology combines advanced software and automation to streamline and optimize post-print workflows for additive manufacturing. The company is headquartered in Buffalo, NY and positions itself as a pioneer in scaling additive manufacturing into mainstream production. With an active Series C round, PostProcess plans to enhance product offerings, expand market reach, and build infrastructure to support rapid scaling. Leadership highlights the role of strategic capital and partnerships in attracting talent and accelerating innovation. The company has received public-sector support through Empire State Development’s NY Ventures program. PostProcess Technologies provides automated and intelligent post-printing solutions for additive manufacturing, delivering a full-stack combination of proprietary software, hardware, and chemistry. The company emphasizes data analytics and machine learning to automate common post-printing processes including support, resin and powder removal, and surface finishing to deliver customer-ready 3D printed parts. Its portfolio has been proven across all major industrial 3D printing technologies and is used daily across manufacturing sectors including aerospace, automotive, consumer goods, defense, and medical. The company is led by CEO Jeff Mize and founder/CTO Daniel J. Hutchinson and operates from Buffalo, NY with international operations in Sophia-Antipolis, France. PostProcess raised $20M in a Series B and intends to use the funds to expand operations and broaden its business reach. PostProcess Technologies provides patent-pending post-processing solutions for 3D printed parts, offering hardware, software and consumables to automate labor-intensive finishing tasks. The company aims to help customers reduce time and cost while increasing throughput. Its technology targets customers across aerospace, automotive, consumer goods, defense and medical industries. Led by Jeff Mize (CEO) and Daniel Hutchinson (CTO), PostProcess is based in Buffalo, NY. The company recently raised $4M in seed funding to support growth. It plans to use the proceeds to accelerate technology developments (including proprietary software, hardware and chemistry) and expand its global Customer Experience Team.