Participated · Series C · Jul 2018

AgBiome uses its Genesis discovery platform to capture and screen microbes for agricultural applications, building a database of over 100,000 microbes and sequencing genomes across hundreds of strains. Its first commercial fungicide, Howler, launched last year and works on more than 300 crop-disease combinations; the company reported 10x sales growth in 2020. AgBiome plans to add a second fungicide, Theia, in early 2022 and has submitted a third product, Esendo, for EPA registration. Management expects to expand into insecticides and herbicides and to have 11 products by 2025. The company manufactures and commercializes its own products and will use new funding to accelerate production of two new products, build manufacturing capacity in North America, and expand internationally. AgBiome has grown to over 100 employees and anticipates increasing headcount to about 300 within five years, and plans selective acquisitions of smaller producers to expand its pipeline. AgBiome discovers and develops biological and trait products that leverage the plant microbiome for crop protection. The company uses its proprietary Genesis™ discovery platform to capture and screen a diverse microbial collection for insect, disease and nematode control. Through its commercial subsidiary, AgBiome Innovations, Inc., it develops and sells proprietary crop protection solutions. Its first commercial product, Howler™, is a biological fungicide for disease control in specialty crops and the turf and ornamental markets. AgBiome is led by Scott Uknes and is based in Research Triangle Park, North Carolina. The company intends to use new funding to bring its crop protection products and solutions to market. AgBiome develops biological and trait products from the crop-associated microbiome and is led by Eric Ward and Larry Daquioag. The company has isolated a large collection of agriculturally relevant microbes whose genomes are sequenced, annotated, and analyzed using a proprietary informatics platform custom-designed for microbial genome comparison. Its first product, a biological fungicide pending EPA approval, was expected to reach market in 2016. Based in Research Triangle Park, NC, AgBiome intends to use the $34.5m Series B to advance its research and development programs and support the launch of its first products. The round was led by the Bill and Melinda Gates Foundation with participation from UTIMCO, Pontifax Global Food and Agriculture Technology Fund and several Series A investors. AgBiome will also work closely with the Gates Foundation to deploy its technology and products to help the poorest farmers worldwide. AgBiome uses a proprietary platform to collect, isolate, analyze and test microbes for use as agricultural biological products and as sources of trait genes. The company engages in multiple partnerships to gain access to seed and crop protection markets for its novel products. AgBiome is led by Co-CEO Scott Uknes and is actively hiring. Financially, the company raised an additional $3M in Series A financing, following a $14.5M first close of the Series A round. Strategic agribusinesses Syngenta, Monsanto and Novozymes have taken equity ownership positions, and venture investors Polaris Partners, ARCH Venture Partners, Harris & Harris and Innotech Advisors participated in the Series A first close. AgBiome focuses on discovering plant-associated microbes and genes to develop biological products that enhance plant health, pest resistance and yield. The company’s first product is a biological that controls predominant soil-borne diseases of greenhouse and major row crops. AgBiome applies state-of-the-art genomics and screening technologies to identify useful microbes and genes from agricultural ecosystems. The $14.5 million Series A financing will advance its research and development programs and support the launch of its initial products. Leadership includes academic founders and seasoned ag biotech executives, with co-CEOs Scott Uknes and Eric Ward guiding product and commercial efforts. The company is based in Research Triangle Park, North Carolina.

Participated · Equity · Oct 2016

Oblong Industries develops spatial, immersive and gesture-enabled technologies for collaborative work, led by CEO John Underkoffler. Its flagship product, Mezzanine™, is a visual collaboration solution supporting multi-user, multi-screen, multi-device, multi-location workflows. The company serves large enterprises, with customers including NASA, PwC, IBM and many others in the Fortune 500 and Forbes Global 2000. Oblong intends to use the new funding to accelerate product development and to launch and ramp expansion into new territories. The article states the company has raised $65M in total funding. No revenue or user metrics were provided in the article. Oblong develops user-interface technology aimed at business collaboration; its technology was the inspiration for the UI in Minority Report. The company recently raised $15.0M in additional funding, disclosed in a regulatory filing earlier in the month. Details of the financing have not been announced by the company. The filing did not specify the financing instrument or investor identities. Oblong is led by John Underkoffler and is based in Los Angeles. Oblong Industries develops a multi-user, multi-screen, multi-device spatial operating environment and a boardroom collaboration platform named Mezzanine. The company supplies its platform to partners including Boeing, SAP, and GE Digital Energy and has a Chief Science Officer who advised the filmmakers of Minority Report. Mezzanine includes hand-gesture recognition (currently too expensive to implement broadly) and a remote described as highly accurate and functional. Oblong had been cash-flow positive for a year through partnerships and had not raised money since a Series A in 2007. Management stated plans to take the platform to broader markets in 2012. Oblong Industries develops gesture-recognition technology aimed at controlling screens via hand and body gestures. The company is described as secretive and based in Los Angeles. It has raised around $8.8 million in a first round of funding led by Foundry Group. Foundry principals Brad Feld and Ryan McIntyre have taken board seats at the company. Public reporting does not specify the exact product focus; it is unclear whether Oblong’s technology targets games, mobile devices like the iPhone or PDAs, or other applications. The company sits amid a competitive field that includes Softkinetic, Xtr3D, 3DV/ZCam, and GestureTek, each pursuing different gesture-sensing approaches.

Led · Series E · Sep 2016

Agrivida develops feed additives for poultry, swine, dairy and beef cattle and aquaculture, using plants as the core manufacturing and delivery system. Its GRAINZYME® Phytase technology expresses enzymes and proteins via plant-based production. The company is led by President and CEO Dan Meagher and is based in the Village of Four Seasons, Missouri. Agrivida plans to use new financing to expand its research and development platform. Management also intends to advance commercialization of GRAINZYME® Phytase into global poultry and swine markets. The article does not disclose revenue or other operating metrics. Agrivida is a Saint Louis-based agritech company focused on animal nutrition. It develops Grainzyme feed additive enzymes, including a Grainzyme Phytase technology that uses protein expression and storage in grain to simplify enzyme production. The company has been granted 33 patents and has more than 85 patents pending. Agrivida plans to commercialize its Grainzyme enzymes for use with poultry and swine and to advance regulatory and product development programs for dairy and beef cattle. Founded in 2004 by CEO Dan Meagher, the company has progressed through multiple development stages. In August 2016 it completed an initial close of a Series E financing to fund commercialization and development work. Agrivida is a Medford, Mass.-based animal nutrition company led by CEO Dan Meagher. The company develops integrated enzyme solutions, including its proprietary GraINzyme® feed additive enzymes and the INergy™ silage technology platform. Agrivida has entered into research and development agreements with the U.S. Department of Energy, ARPA–E, the USDA and other partner companies. It completed a $23M Series D financing to fund its next phase of growth. The company intends to use the funds to advance development and commercialization of GraINzyme® and INergy™, expand its capabilities and leadership team, advance regulatory and product development, and pursue strategic commercial partnerships. Agrivida develops biotechnologies and proprietary crops intended to transform the economics of producing renewable chemicals, fuels, and bioproducts from non-food cellulosic biomass. Its patented approach engineers feedstocks to contain cell wall–degrading enzymes and other valuable traits that are activated following harvest to provide low-cost sugars essential for industrial bioproducts. The company frames this as an integrated solution to deliver the lowest-cost sugars for industrial processing. Agrivida plans to commercialize its platform through alliances across the bioindustrial product supply chain. It is funded by venture capital firms including Kleiner Perkins Caufield & Byers, Prairie Gold Ventures, DAG Ventures, Presidio Ventures, NorthGate Capital, and incTank Ventures. Its programs are supported by grants from the National Science Foundation, the U.S. Department of Energy (including an ARPA-E grant), and the U.S. Department of Agriculture. The company announced a $15 million Series C in September 2012.

Participated · Series A · Sep 2013

Synergis Education provides outsourced education and technology services and adult-learning programs to higher-education partners. The company offers on-campus, multi-location and fully online programs for both non-profit and for-profit institutions. Its services span strategy, administrative and operational support, financial and accounting, marketing and enrollment, student retention and placement, academic systems, information and eLearning technologies, curriculum and instructional design, course development and faculty support. Synergis is led by CEO Norm Allgood and is based in Mesa, Arizona. The company said it will use new funding to accelerate growth initiatives focused on developing and managing innovative educational programs. The March 2015 investment was an equity financing; the amount was not disclosed. Synergis Education is a premium, full-service provider of educational services that helps traditional colleges and universities design, launch and grow programs for non-traditional adult learners across online, onground and hybrid delivery. The company says it is positioned to work with the entire adult higher education market and remains agnostic to delivery method. Synergis works with nine university partners, including Cornerstone University, Gwynedd Mercy University, Cardinal Stritch University, Warner Pacific College, Averett University, University of Southern California, Samuel Merritt University, Gratz College and Harrisburg University. CEO and co-founder Norm Allgood leads the company, which the firm and investors describe as the single fastest growing School-as-a-Service provider. Synergis plans to use new capital to add and expand programs at partner universities with a strong emphasis on healthcare programs and to add new partner institutions and geographies. The company announced the completion of a $5 million Series A2 financing in the press release. Synergis Education provides premium, full-service "School as a Service" educational services to help colleges and universities build and operate programs for non-traditional adult learners, remaining agnostic to delivery method (online, face-to-face, blended). Founded in 2011 with University Ventures as co-founder, the company assists partner institutions in gaining regional prominence, enrollment growth, and long-term sustainability through continual improvement and best practices. Synergis currently works with six university partners to fund, establish and grow higher-education programs. Management says the company is the single fastest-growing School as a Service provider and aims to serve thousands of new students. Synergis plans to use the $33 million Series A proceeds to expand programs at its current partners and to add new partner institutions in other areas of the U.S. Board additions tied to the financing are intended to support scaling and institutional partnerships as the company expands.