Led · Equity · Jan 2024

Kore.ai develops a no-code and pro-code platform that lets enterprises build, orchestrate and manage AI agents capable of automating complex workflows across customer, employee and back-office functions. The company positions itself as model-, data- and cloud-agnostic, allowing clients to choose their preferred infrastructure while maintaining security and scalability. Kore.ai’s technology has been recognized as a Leader in Gartner’s Magic Quadrant for Conversational AI Platforms and tops additional analyst evaluations from Forrester and Everest Group. Strategic partnerships with Microsoft (launch partner for Microsoft Agent 365) and AWS (agentic competency partner) help the firm support large-scale deployments. The firm serves 480 Global 2000 companies and is supported by more than 500 partners worldwide, underscoring meaningful commercial adoption. Headquartered in Orlando with offices across India, the UK, the Middle East, Japan, South Korea and Europe, Kore.ai aims to accelerate international expansion and deepen customer engagement. The new funding will be used to scale go-to-market initiatives, grow its agentic solutions marketplace, and continue product innovation. No revenue figures were disclosed in the article.

Led · Series A · Jul 2022

PunchListUSA provides an online real estate platform that digitizes national home inspection data to create instant repair estimates and enable online service orders for homeowners, brokers, and institutional investors. The platform is powered by proprietary technology and property data to deliver home repair, renovation, and lifecycle services at scale through process automation and integrations with industry partners. The company emphasizes exclusive inspection data access to support end-to-end home lifecycle services and future marketplace offerings for homeowners. PunchListUSA currently operates in 14 major U.S. cities, employs nearly 100 full-time employees, and supports over 150 national and regional broker partners. Since the third quarter of 2021 it has added 25 institutional partners, including iBuyers, single-family rental operators, and portfolio investors for renovation and maintenance services. The company plans geographic expansion to over 30 markets through 2023 and is opening new offices in Newport Beach, CA and Dallas, TX while accelerating development of its consumer-facing platform and proprietary data infrastructure.

Participated · Series D · Dec 2021

Engage3 provides Price Image Management (PIM) and Competitive Intelligence Management (CIM) software that uses AI-assisted, attribute-based data science to collect granular competitive pricing data and link like-items. Its CIM collects 30 billion product pricing records annually in the U.S. and Canada and helps retailers reverse-engineer competitors’ pricing and assortment strategies across channels, markets, and items. PIM models the impact of strategic pricing alternatives and generates pricing recommendations aligned to retailers’ Price Image, sales, and profitability objectives. Engage3 works with six of the world’s top 10 largest global retailers and serves FMCG, non-FMCG, convenience & fuel, and e-commerce retailers. The company plans global expansion into 30+ new countries, enhancements across its Price Image Management Suite, new products to measure and enhance trade promotions, and to build capabilities to continue serving the world’s largest organizations. Engage3 will use the Series D growth financing to execute this roadmap and double its team to support accelerated growth. Engage3 is a Davis, CA-based retail software company that helps retailers manage their Price Image using accurate competitive data, data science and AI-powered software solutions. Its Price Image Management Suite™ enables retailers to understand and align Price Image with sales and profitability objectives through predictive modeling. The suite includes Competitive Intelligence Management (CIM), an AI-assisted, attribute-based, data science-driven solution that provides competitive data and like-item-linking visibility. Engage3 collects roughly 30 billion product pricing records annually across the U.S. and Canada. Customers include eight of the top ten grocery retailers in the U.S. The company is led by Founder and CEO Ken Ouimet and plans to use new funding to accelerate product development, expand staff, and scale go-to-market initiatives. Engage3 provides an integrated retail pricing platform that emphasizes data quality and competitive pricing management. Its Competitive Intelligence Platform (CIP) is an end-to-end solution that uses data science to ensure data comprehensiveness, freshness, and accuracy and automates competitive shop program management. The company’s Competitive Price Response (CPR) is a visual price modeling tool that uses proprietary psychological models to measure consumers’ perception of pricing and predict the impact of price changes. Led by CEO and founder Ken Ouimet, Engage3 plans to use the recent financing to expand staff and scale go-to-market initiatives. The company anticipates doubling revenues in 2019. Engage3 raised a Series B two years earlier from retail technology-focused venture capitalists and is in the process of raising a Series C. Engage3 offers a SaaS omni-channel competitive intelligence and consumer engagement platform called MissionControl™. MissionControl is powered by advanced predictive analytics and a historical product and pricing database covering over 8 million UPCs and 10 billion price updates per year across more than 32,000 retail locations. Led by founder and CEO Ken Ouimet, the company combines data science, deep domain expertise, and innovative technology to serve CPG companies. The company intends to use the new funding to grow its team, expand its omni-channel retail pricing platform, and accelerate deployment of its B2B personalization solution. Engage3 operates a SaaS-based model focused on pricing and competitive intelligence for retailers and manufacturers. Previous and existing investors include The McClatchy Company and Swift Communications. Engage3 builds an omni-channel competitive intelligence and consumer personalization SaaS platform called MissionControl™, combining data science, domain expertise and technology to improve CPG companies' competitive visibility. The platform is designed to maximize the ROI of clients' competitive intelligence programs and support personalized promotions. Engage3 plans to deploy MissionControl through consumer media companies, directly via retailers' loyalty and CRM programs, and via the connected home. The company says it will use new capital to drive revenue growth from its competitive intelligence platform and to accelerate implementation of its personalized promotions platform. Engage3 is led by CEO Ken Ouimet and is based in Davis, California. It recently closed a Series B round of undisclosed size led by Moneta Ventures.

Participated · Series E · Aug 2021

Apeel develops a plant-based layer applied at supplier packing facilities that keeps moisture in and lets oxygen out, doubling produce shelf life. The company installs its coating at supplier facilities and acquired ImpactVision to add imaging-based quality controls and routing optimization. Since 2019 Apeel says it has prevented 42 million pieces of fruit from retail waste, achieved up to a 50% reduction in avocado waste, and conserved nearly 4.7 billion liters of water. Over the past year it expanded to eight countries, operates 30 supply networks, and distributes through 40 retail partners to tens of thousands of stores. Apeel plans to accelerate rollout, co-create another 10 supply networks by year-end, advance its data and insights offerings, and pursue future acquisitions. Financially, the company has raised over $635 million since its 2012 founding and continues to scale commercial deployments. Apeel Sciences produces plant-derived preservation treatments and provides supply-chain management services to reduce spoilage of fresh produce. The company is implementing its technology at distribution centers in select markets across Asia, Africa and Latin America to link smallholder farmers to international buyers. Initial target markets include Mexico, Costa Rica, Peru, South Africa, Kenya, Uganda and Vietnam, and treated crops include avocados, pineapples, asparagus and citrus. Apeel emphasizes improving market access and prices for small farmers by extending shelf life where refrigerated chains are unavailable. The company was founded in partnership with the Bill & Melinda Gates Foundation and the U.K. Department for International Development and is based in Santa Barbara, California. Financially, Apeel has raised more than $360 million to date, including a $250 million round earlier this year, and recently secured additional capital to support the international rollout. Apeel Sciences sells plant-derived coatings and treatment systems that slow spoilage and keep produce fresh on store shelves. Its technology is installed at the back end of retailers’ supply chains and can treat about 10,000 kilograms of food per hour. The company says grocers using Apeel see roughly a 50% reduction in shrink, 5–10% growth in dollar sales and an incremental 10% lift when paired with in-store marketing. This year the company is on track to treat 20 million pieces of fruit and is already working with retailers in the U.S. and Europe. With new capital the company plans to expand operations into Africa, Central America and South America to achieve year-round supply by operating in both hemispheres. Apeel is based in Santa Barbara, California, and is valued at more than $1 billion after roughly $360 million in total financing to date. Apeel Sciences develops plant-derived powders that, when mixed with water and applied as a spray or wash, form a protective “second peel” to slow spoilage of fruits and vegetables. The company’s coating is not a genetic modification and requires no special labeling at grocery stores. Apeel began in 2012 with a $100,000 grant from the Bill and Melinda Gates Foundation to reduce post-harvest waste in developing countries and has deployed distribution systems for farmers in Kenya and Uganda and a foothold in Africa and Southern Asia. It has expanded partnerships with U.S. farmers and introduced Apeel-treated avocados to Costco and Harps Food Stores, where Harps reported a 65% increase in margin and a 10% lift in avocado-category sales. Apeel says the new capital will fund R&D for additional sprays (including for stone fruit and asparagus) and further development of nature-inspired materials to reduce food waste. Apeel Sciences manufactures an edible, biodegradable film derived from agricultural byproducts (for example, orange peels) that is applied to fruits and vegetables to slow water evaporation and reduce spoilage while permitting necessary gas exchange. The coating is designed to maintain moisture yet allow delicate physiologic gas exchange so produce can mature properly while slowing decay. Their products decompose in the environment the same way food does. The company has used prior funding to scale up manufacturing, obtain FDA approvals, and ship formula internationally for demonstrations. Media attention and growing awareness of food waste have helped Apeel tell its story and attract investor and philanthropic interest. Apeel launched in 2012 out of a University of California venture competition.