Participated · Equity · Aug 2024

CloudPay provides global payroll, salary payments and pay-on-demand services with real-time reports and customizable dashboards for payroll and finance teams. The company processes more than 3 million payslips a year across 130+ countries and handles payroll for about 280 firms, including Visa, Wayfair, Wells Fargo, Expedia and the London Stock Exchange. CloudPay reports contracted revenue of $125 million and says it has more than doubled revenue over the last three years. The company employs about 1,350 people and has offices in Raleigh, Budapest, Shanghai, Costa Rica, Barcelona and elsewhere. Leadership says CloudPay plans to use new funding to add integrated partners and invest in automation and AI, and expects to make AI announcements later this year. CloudPay provides cloud-based, end-to-end global payroll and payments services for enterprise customers, connecting payroll, payments, and on‑demand pay across a single platform. The company offers employee solutions including Earned Wage Access and a pay-on-demand app, and has launched partnerships with Visa Direct and HR platform HiBob. CloudPay's platform operates across 130+ countries and 168 currencies and services an impressive roster of global, blue-chip customers. The business is reporting high, double-digit year-over-year growth, processing 2.5 million payslips annually and recently surpassing 1,000 employees. Management projects approximately 40% revenue growth for 2022 and says the new capital will support continued innovation and expansion of its global payroll and payments offering. CloudPay plans to continue expanding its integrated payroll and payments services to meet growing demand in the modern workplace. CloudPay provides a unified global payroll platform that connects payroll, payments, and on-demand pay for multinational employers. The company offers treasury services and an earned wage access product, CloudPay NOW, which is live in 12 countries and has won a CODiE award. CloudPay says over 1,500 multinational companies use its platform across more than 130 countries. In 2020 the company exceeded its pre-COVID new business plan growth by 50 percent, and it has seen increased demand for expanded treasury services and consolidation of pay operations onto its platform. Management plans to use funding to build fintech capabilities, including peer-to-peer payments, and to expand its employee financial wellbeing solutions. CloudPay provides managed global payroll services to multinational organizations through a single, unified cloud solution. Its platform processes payroll in line with complex local and country-specific requirements, eliminating error-prone manual processes and ensuring timely payments. The solution guarantees accurate payroll processing across 130+ countries and in more than twenty-five languages. The company is led by Paul Bartlett (CEO) and Joshua Ruch (Chairman) and operates out of NYC and London. CloudPay intends to use new growth capital to scale the business and bring new products to market. CloudPay provides managed global payroll services to multinational organizations via a unified SaaS solution available in more than twenty-five languages across 120+ countries. The platform is used by over 2,400 multinational entities. Led by CEO Paul Bartlett, the company combines managed services and a technology platform to handle payroll for large and smaller multinationals. The firm is headquartered in New York City. CloudPay plans to use its recent funding to grow its global operations team and to expand the market for its technology platform and services to more multinational companies and smaller multinationals. The article reports a $25M funding round with participation from Rho Ventures, Pinnacle Investment Partners and Hercules Capital.

Participated · Equity · Nov 2022

DispatchHealth is a provider of in‑home medical care that enables patients and their care partners to request services via phone, mobile app, or website. A medical team can arrive within two hours and is equipped to perform high‑acuity medical care in the home. The company operates in the hospital‑at‑home care space. Financially, DispatchHealth recently raised $330M to support its operations and growth. The raise included participation from both existing and new strategic investors, reflecting broad payer and investor interest in home‑based acute care. DispatchHealth delivers on-demand acute medical care and an advanced level of home-based care through mobile medical teams equipped to treat common to complex injuries and illnesses. Its platform offers acute care seven days a week, evenings and holidays, and can be requested via app, online or phone. Advanced Care provides a hospital-at-home substitute with an internal-medicine-trained physician, a physician assistant or nurse practitioner, 24/7 physician coverage with remote monitoring, an emergency call button and daily bedside nursing visits. The company works with payers, providers, health systems, EMS and employer groups to reduce unnecessary ER visits, hospital stays and readmissions. Launched in 2013 and led by CEO Dr. Mark Prather, DispatchHealth plans to expand its in-home platform to a total of 100 markets and scale its Advanced Care service across the United States. Its most recent financing raised the company’s valuation to $1.7 billion. DispatchHealth provides on-demand acute care and advanced medical care for patients of all ages via emergency medicine and internal medicine-trained medical teams. Teams are equipped with the tools needed to treat common to complex injuries and illnesses and typically arrive within two hours after a request via phone, mobile app or website. Examples of care include IV fluids for dehydration, laceration repair, and higher-level interventions for asthma, COPD or congestive heart failure exacerbations. The company works closely with payers, providers and health systems to deliver care in the home and reduce unnecessary emergency room visits, hospital stays and readmissions. Acute care medical teams are available seven days a week, including evenings and holidays, and DispatchHealth is partnered with most major insurance companies. The company says it will use the funds to expand operations and its business reach. DispatchHealth is a Denver-based on-demand health care delivery company that provides in-home care through board-certified medical teams. Led by Dr. Mark Prather, these teams are equipped to treat common to complex injuries and illnesses for patients of all ages and are available during days, evenings, weekends and holidays. Patients request visits via the company's app, online or by phone, and after treatment DispatchHealth sends notes to patients' primary care physicians, senior living communities when applicable, and the patient. The company collects data from hundreds of patients seen each day nationwide to identify care trends and social determinants of health. DispatchHealth works with payers, providers and health systems and is partnered with most major insurance companies. After closing a $33M growth financing, the company plans to expand to additional U.S. locations, broaden treatment capabilities for patients with high medical needs and accelerate investment in its mobile application and logistics platform. DispatchHealth provides on-demand, on-site healthcare services delivered in the home, senior care facility, or office. Founded in 2013 by Dr. Mark Prather and Kevin Riddleberger, the company operates in Denver, Boulder, Colorado Springs and Phoenix. Patients request care via a mobile app, the DispatchHealth website, or by phone and are connected to emergency-trained providers supported by the company's technology infrastructure. Providers are prepared to handle everything from minor illness and injury to more complex clinical cases. The company secured $30.8m in funding and intends to use the capital to scale its technology-enabled healthcare delivery platform. Additional service areas were slated to be announced in the fourth quarter of 2017.

Participated · Convertible Note · Jun 2022

Pure Harvest builds and operates high‑tech controlled‑environment farming solutions to reliably produce sustainably grown fresh produce in climates with difficult agricultural conditions. The company plans to use new capital to expand its footprint across the GCC and enter new markets in Asia, deploying growing systems in those markets. Pure Harvest will increase research and development spending and is investigating product extensions and water‑efficient CEA solutions for fodder production. The firm previously secured sizable R&D incentives from the Abu Dhabi Investment Office in 2020. Financially, Pure Harvest completed an oversubscribed USD $180.5 million growth financing, described as the largest‑ever convertible financing in the MEASA region, and is considering further upsizing with strategic investors. Pure Harvest Smart Farms is a technology-enabled controlled-environment agriculture (CEA) operator producing tomatoes, leafy greens and strawberries. The company currently operates three farms in the UAE and has fourth and fifth projects under development in Saudi Arabia and Kuwait. Upon final completion of the in-progress projects it will operate over 18 hectares of production capacity and employ over 300 people. Pure Harvest is positioning itself as the GCC’s homegrown CEA champion and is expanding its technology suite and crop range through a joint venture with PlanTFarm to add indoor vertical farming systems and 100+ commercially proven crops. The company plans to use new funding to finance existing GCC projects, drive R&D initiatives, expand its team and seed a beachhead in Asia. Pure Harvest Smart Farms, founded in Abu Dhabi, develops technology-enabled hybrid greenhouse growing systems to produce tomatoes, leafy greens and berries for local markets. The company focuses on ‘local-for-local’ production to enable fresh produce cultivation within the harsh climate of the Arabian Gulf and to improve regional food security. It is nearing completion of its third hybrid greenhouse in the Emirates, is constructing a beachhead in Saudi Arabia, and has announced a EUR 39 million expansion project in Kuwait. Pure Harvest says its production economics can beat the landed cost of comparable imported produce from European industrial greenhouses. The company plans to diversify its crop offering and advance R&D through partnerships, including work with the Abu Dhabi Investment Office. Capital raised will support capacity expansions, talent recruitment, R&D and new market entry. Pure Harvest Smart Farms builds and deploys technology-enhanced controlled-environment greenhouses to grow pesticide-free fruits and vegetables across the Middle East. The company plans to continue developing advanced greenhouse designs optimized for profitability and sustainability and to roll out its solution regionally, including in Kuwait. It intends to use new capital for growth, key hires, and to enhance its technology portfolio. Pure Harvest is simultaneously arranging structured debt financing alongside equity funding. The company first gained international attention as a participant in TechCrunch’s Startup Battlefield MENA competition. The recent funding push is intended to help the company achieve industrial economies of scale for next-generation greenhouse deployments. Pure Harvest Smart Farms develops high-tech, fully climate-controlled greenhouse production technology to grow vine crops (tomatoes, capsicum, strawberries, cucumbers, eggplants, etc.) in the extreme climates of the Arab Gulf region. Led by Co-Founder & CEO Sky Kurtz, the company is building a facility in Nahel, United Arab Emirates. It plans to complete the facility by mid-year and begin selling produce in the second half of 2018. The company intends to use the facility to demonstrate its technology and its ability to meet regional demand for fresh local produce, with plans to expand quickly across the region thereafter. Financially, Pure Harvest raised $4.5m in seed funding following an earlier $1.1m pre-seed round led by Shorooq Investments.