Participated · Series A · Feb 2024

ZipLines Education, based in San Carlos, CA, partners with universities to deliver industry-focused certificate courses designed to prepare professionals for a digital-first workforce. Its 10-week courses are delivered fully online and combine self-directed (asynchronous) learning with live, interactive (synchronous) sessions. Led by CEO and founder Sara Leoni, the company works with university partners to offer industry-aligned curricula. ZipLines plans to use new funding to expand its team, develop proprietary technology products, and strengthen partnerships with universities to serve more students. Over the coming months it will announce new university partnerships and expand hiring in technology, marketing, analytics, learning experience design, and student success. The company recently closed a $6.4M Series A to support these efforts.

Participated · Series B · May 2023

Carrum Health provides surgical and cancer treatment guidance and coordination for self-funded employers through a Centers of Excellence network that offers all-inclusive pricing and a 30-day warranty. Members pay a fee for access to the network and care coordination. The company launched an oncology offering in partnership with Memorial Sloan Kettering Cancer Center and University of Chicago Medicine after the 2021 investment. Carrum reports a revenue compound annual growth rate of 90%–100% over the last three years and nearly doubled its book of business in 2022. It added six new partners including CVS, Included Health, Accolade, Rightway, SWORD Health and Virgin Pulse and says demand has surged in 2023. The company plans to invest aggressively in its oncology solution and continue expanding its core surgical offering. Carrum Health operates a platform that connects employer-sponsored insurance plans with surgical centers of excellence. It uses machine learning to collect and analyze data on surgical outcomes and care to identify centers of excellence across the U.S. The company offers self-insured employers bundled surgical pricing with no co-pays, deductibles or co-insurance; customers pay a fee and receive a 30-day warranty covering costs from complications or botched operations. Using Carrum can yield savings of up to 50% on surgical expenses, and employees access a mobile app providing virtual care before, during and after surgeries. Named customers include Quest Diagnostics and US Foods, and participating centers of excellence include Johns Hopkins HealthCare, Mayo Clinic and Tenet Healthcare. Carrum plans to expand its reach and add additional services in 2021; it raised $40 million in Series A funding to support sales and marketing, product expansion, and technology improvements. Carrum Health is a comprehensive bundled payment platform that connects self-insured employers to regional healthcare providers through standard bundled payment arrangements. Founded in 2014 and led by CEO Sachin Jain, the company operates from San Francisco and currently serves more than 400 employer groups on the U.S. West Coast. The platform manages acute care bundles intended to control costs and coordinate care for employers and employees. Carrum plans to expand its offering by adding additional acute care bundles in orthopedics, spine and cardiac care and by adding service lines such as bariatrics and maternity. The company will use new funding to enhance its technology and operations platform and to improve analytical insight capabilities.

Led · Series B · Feb 2021

LeaseLock builds an AI-powered lease insurance product (LeaseLock Zero Deposit™) that eliminates security deposits and deploys directly within native online leasing checkouts. It integrates with property management system integrations and data science to underwrite and deliver coverage, which the company says drives conversion lift and instant coverage on every lease. LeaseLock has insured over $1 billion in leases to date and reported 400% growth in apartment homes on the platform in 2020, reaching more than 1.5 million homes. Key customers include Greystar, Cushman Wakefield, Avenue5 Residential, Harbor Group, LMC, RKW Residential, Goldman Sachs, ColRich, GoldCor, Olive Tree, TruAmerica, White Oak, Trinsic, and Goodman Real Estate. Clients are measuring six-figure NOI lift per asset, which LeaseLock says results in millions in portfolio asset value increases. Management says it will double down on its core deposit replacement product while investing in new insurance lines, payment and receivables technology, and market channels as it expands into an AI-powered financial technology platform for enterprise real estate. LeaseLock is a Los Angeles, CA–based insurance technology product for the rental housing market that replaces security deposits with insurance. Renters pay a low monthly fee starting at $19 that insures the property for up to six times rent and damages. The company has enrolled over 1,000,000 apartment homes across multifamily portfolios, including Lennar Multifamily Communities (LMC), Avenue5 Residential, United Apartment Group, and Bainbridge. Led by founder and CEO Reichen Kuhl, LeaseLock completed a $10M Series A to support growth. The company intends to use the funds to expand sales and marketing efforts and to broaden and accelerate product development. The product targets multifamily operators by offering an alternative to traditional security deposits. LeaseLock offers a technology-powered insurance product for the residential rental market that replaces traditional security deposits by issuing an insurance policy that protects properties for all rent payments. Its underwriting uses a predictive risk algorithm so approved applicants can pay a LeaseLock fee that is translated into an insurance policy. The product is positioned to help renters with poor credit secure leases without cosigners or high deposits while also improving credit scores. Property managers benefit from higher lease conversion, reduced default losses, and improved cash flows, which can increase property values. Since launching earlier in the year, LeaseLock has enrolled property managers representing over 500,000 units with properties launched across 14 states and is approved to offer its rent-payment insurance in 49 other states. The program is backed by insurance rated A- by A.M. Best and supported by a $4 billion multiline reinsurer.

Participated · Series B · Feb 2020

Paystand operates the Paystand Bank Network, a cloud- and Ethereum blockchain-powered platform that enables business-to-business payments with zero transaction fees. The company charges a flat monthly rate rather than per-transaction card fees. It positions itself as bringing Venmo-like ease to commercial transactions for mid-market and enterprise customers and aims to transform the $125 trillion B2B payment industry using decentralized finance. Customers over a three-year period have realized average benefits including roughly 50% savings on cost of receivables and $850,000 in savings on transaction fees. Paystand reports a 200% increase in monthly network payment value and that its customer count doubled over the past year. The company plans to use new funding to invest in open infrastructure and reimagine the CFO stack as it scales. Paystand provides a blockchain-enabled, zero-fee subscription Payments-as-a-Service platform that automates the payment experience from invoice to reconciliation and integrates with a company’s System of Record. The platform delivers a real-time, fund-verified, blockchain-assured payment network that can move money between businesses instantly and claims to save businesses over 50% on payment costs while reducing DSO by more than 60%. Paystand serves industries including insurance, manufacturing, transportation and pharmaceuticals and cites customers such as JCB, Allied Aerofoam, Punchh, Bugaboo, Covetrus, Parachute Home and Vast Bank. The company reports over 160,000 businesses transacting on its platform; its payment ecosystem surged 60% in the past 12 months, it added 80 large enterprise customers in the last 24 months, posted 2.5x YoY revenue growth, and saw average monthly subscription growth of over 240%. Paystand plans to use the new capital to accelerate expansion of products and services and to grow sales, marketing, success, and engineering teams. The company operates offices in Scotts Valley, California and Guadalajara, Mexico. PayStand provides a Payments-as-a-Service platform that embeds digital payments into apps, websites, invoices and ERP systems to automate cash management and reconciliation. The platform supports card and ACH processing as well as eCheck bank transfers and a 0 percent eCash stored-value technology. PayStand leverages blockchain to track payment data and create auditable records, aiming to reduce time-to-cash, lower transaction costs, and improve security. Customers include manufacturers, distributors, software platforms and service providers integrating digital payments into their billing workflows. The company is venture backed and has been recognized as an innovator in enterprise financial services. PayStand will use new funding to scale its accounts receivable systems and to launch a free accounts payable product line now available in beta. PayStand offers a payment-as-a-service platform that accepts bitcoin, credit cards, and e-checks and can be integrated with any website or mobile application in under five minutes. Merchants pay a monthly fee for the software and can avoid transaction fees charged by other payment services; customers are shown transaction costs (2.9% for credit cards, $0.25 for online checks, and no charge for bitcoin payments). Merchants choosing bitcoin can have cryptocurrency deposited directly to their bitcoin wallet address or routed to an exchange address to convert to dollars. The product launched from a closed beta and was in private beta since 2013, evolving from CEO Jeremy Almond’s experiments and investments in digital currencies. PayStand positions itself as a flexible alternative that lets merchants route some transactions outside traditional card networks while still supporting card acceptance. The company targets U.S. websites and mobile apps as its initial market.

Participated · Seed · Dec 2019

Allstacks provides a predictive forecasting and risk management platform that uses machine learning and AI models across the software development lifecycle to identify at-risk initiatives and recommend solutions. The platform is designed to improve software development outcomes and reduce delivery risk. The company intends to use the funds to expand product capabilities around enterprise scalability and to deploy AI-based capabilities to reduce time to action in the software development lifecycle. It will also expand strategic integrations building on existing integrations in the Microsoft, Atlassian, and ServiceNow ecosystems. Founded in 2017 by Hersh Tapadia (CEO) and Jeremy Freeman (CTO), Allstacks is based in Raleigh, NC and has a presence across eight countries. The Series A financing supports the company’s plans for enterprise scaling and deeper ecosystem integrations. Allstacks is a value stream intelligence company that provides a predictive forecasting and risk management platform for software development. The platform leverages machine learning and AI models across the software development lifecycle to identify at-risk initiatives and recommend solutions to get them back on track. Led by CEO Hersh Tapadia, the company aims to improve software development outcomes through its analytics and forecasting tools. Based in Raleigh, North Carolina, Allstacks recently completed a $12.3m Series A financing. The company intends to use the proceeds to build out its go-to-market functions. Investors in the round included Companyon Ventures, Atlassian Ventures, CreativeCo, Hyperplane Venture Capital, S3, and ClutchVC. Allstacks provides a predictive forecasting and risk management platform that aims to improve software development outcomes. The platform runs machine learning and AI models across every tool used to build software across the entire development life cycle. It identifies at-risk initiatives and provides solutions to get them back on track. The company secured $4.7M in seed funding to scale the business. Allstacks intends to use the funds to grow its teams in Raleigh, NC and Austin, TX. The company is led by co-founders Hersh Tapadia (CEO) and Jeremy Freeman and plans to expand its product and operations.