The Venture Codex

Participated · Equity · Mar 2017

Velano Vascular develops vascular access technologies for hospital inpatients and is led by CEO Eric M. Stone. Its FDA-approved PIVO device expands the use of peripheral IV lines for frequent, high-quality blood draws. The device is positioned to deliver painless, compassionate care for patients, improve safety for caregivers, and offer a more financially responsible alternative for health systems. The company provides a family of products that enable blood draws from indwelling peripheral IV catheters. Velano intends to use newly raised funds to accelerate commercialization and to launch additional novel inpatient medical device solutions. As of the latest tranche, the company has raised more than $50 million in total funding. Velano Vascular develops human-centered vascular access technologies and is based in San Francisco. The company is advancing the PIVO™ needle-free, single-use disposable device that enables high-quality blood samples via indwelling peripheral IV lines. PIVO is intended to reduce hospitals' reliance on repeat needle sticks and central line access, improving the blood draw experience for patients and practitioners. Velano raised $17M in financing to scale and commercialize its family of vascular access technologies. Backers on the financing included a publicly traded healthcare company and a global supplier alongside existing investors. The company is led by CEO Eric M. Stone. Velano Vascular develops a single-use, disposable device intended to standardize blood draws through patients' existing peripheral IV (PIV) catheters, reducing reliance on repeat needle sticks and central line blood draws. The company aims to improve the care experience for hospitalized patients and their practitioners and is advancing its technology for both adult and pediatric populations. It is working to better understand and evaluate the technology in pediatric patients and will initiate pilot programs this year exploring the device in medical centers and departments that serve adult and pediatric patients. Velano raised an additional $3.5M to support development and commercialization of its inpatient blood-draw technology and had completed a $5M Series A in January 2015. Leadership includes co-founder and CEO Eric M. Stone and newly added VP of Manufacturing and Operations Quinton J. Farrar. The company is based in San Francisco and also maintains an office in Philadelphia. Velano Vascular develops patented medical technology intended to reduce needle sticks during the inpatient blood-draw procedure and to enhance safety for providers. The company’s core product is a vascular access device aimed at improving blood-draw safety and workflow in hospitals. Velano was founded in 2012 and is led by president Pitou Devgon, MD, and CEO Eric M. Stone. It is based in Philadelphia, PA and San Francisco, CA. The company plans to use recently raised capital to move into clinical evaluation and into early commercialization with select hospital partners. The articles do not report revenue or user metrics.

Participated · Series A · Mar 2017

Founded in 1996 as a graffiti magazine, Mass Appeal has grown into a multi-platform media and content company focused on urban culture. Led by CEO Peter Bittenbender, the company produces and develops TV, film and commercial content, provides creative services for blue-chip brands, operates an urban alternative record label and maintains owned media channels across social, web and print. Its work includes the feature documentary Fresh Dressed, directed by Chief Creative Officer Sacha Jenkins and produced in partnership with CNN Films, which debuted at the Sundance Film Festival in 2015. In July 2016 Mass Appeal announced a content partnership with TBS and TNT that includes the digital animated series Storyville and Think B.I.G., a scripted series based loosely on the life and lyrics of the late Notorious B.I.G. The company raised $6M in a Series A led by Universal Music Group. In conjunction with the funding, UMG Executive Vice President Michele Anthony joined Mass Appeal’s board of directors. Mass Appeal is a joint venture reviving the Brooklyn-based, graffiti-focused magazine that was founded in 1996 and shut down in 2008. The current team revived the title earlier this year and is expanding into online content, including web video, photography, social, print, and live experiences. Its site and YouTube channel feature behind-the-scenes content and series such as the "Time Pieces" shorts from Jason Goldwatch. The company frames its work around the core ethics of hip-hop culture but says it goes beyond hip-hop to embrace street art, fashion, and creative instigation. Mass Appeal raised $1.2 million in funding from a mix of traditional firms and figures in the hip-hop world. Rapper Nas (who invested a six-figure sum and serves as associate publisher), DECON, Pusha T, and White Owl Capital are named investors; publisher Peter Bittenbender is co-founder and CEO of DECON.

Led · Equity · Apr 2011

OfficeDrop offers multiple ways for users to scan and manage paper documents for cloud storage. Its product suite includes ScanDrop, a self‑serve desktop scanning application for Windows and Mac; a digital cloud filing system; OfficeDrop Paper to Go, an iPad app for managing, searching and sharing documents; and a sail‑in document scanning service that converts paper into text‑searchable PDFs. The company was a finalist in Amazon’s startup challenge. OfficeDrop evolved from a mail‑in only service to a hybrid mail‑in and self‑service scan‑to‑cloud model. Since that shift it has seen more than 6,000% growth in customers. The new funding will be used to support product development and marketing.