SpotOn Funded $300M to Develop Financial Platform Capabilities to Increase Market Users

financial

SpotOn is based in San Francisco, CA. This company is a developer of a cloud-based financial platform design to give businesses an unparalleled set of growth-driving tools.

SpotOn was funded $300 million in Series E funding, raising its valuation to $3.15 billion. Andreessen Horowitz led the round with continued participation from current investors, including DST Global, 01 Advisors, Dragoneer Investment Group, Franklin Templeton, Mubadala Investment Company, and new investors Wellington Management and Coatue Management. In addition, advisors Douglas Merritt, CEO of Splunk, and Mike Scarpelli, CFO of Snowflake, also made individual investments as angel investors.

Will use the company’s new investment to acquire Appetize, a leading digital and mobile commerce financial platform for enterprise businesses, such as sports and entertainment venues, theme parks, zoos, college campuses, and more.

SpotOn has provided software and financial payments technology to SMBs, emphasizing restaurants and retail businesses. However, the acquisition of Appetize extends SpotOn’s reach to the enterprise space in a significant way. Appetize will market as SpotOn and will work to increase its client base, including an excellent directory of companies and organizations, including Live Nation, LSU, Dodger Stadium, and Urban Air.

Appetize’s technology performs it more comfortable to pay in various contactless processes through point of sale (POS) devices, self-service kiosks, handheld tools, online ordering, mobile web, and API integrations.

SpotOn is bringing on the likes of Square in the payments place. But the company says its offering lengthens beyond typical payment processing and point-of-sale software. Instead, its platform intends to give SMBs the capability to manage their businesses “from building a name to accepting payments and everything in between.” SpotOn aims to be a “one-stop-shop” by incorporating tools such as marketing, custom website development, scheduling software, review management, appointment scheduling, analytics, and digital loyalty.

Through these combine, complementary technologies, SpotOn positioned to support clients of all types and sizes to manage their business now and well into the future. The transaction expected to close by mid-September.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Corelight Funded $75M to Develop New Data for Global Market

Market

Corelight is a developer of a network visibility software platform design to solve cybersecurity problems in the market. Based in San Francisco, This company is an open-core security company founded by the creators of Zeek, the widely use network security technology.

Corelight was funded $75 million led by Energy Impact Partners with participation from previous investors General Catalyst, Accel, Insight Partners, Osage University Partners, H.I.G. Growth Partners, CrowdStrike Falcon Fund, Capital One Ventures, and angel funding Gaingels. The new investment intends to accelerate both global market presence and develop new data and cloud offerings.

Corelight is the fastest-growing NDR platform, helping defenders in some of the world’s most prominent financial institutions, healthcare organizations, retail, critical infrastructure providers, and government agencies. Building on more than 20 years of open-source improvement and community-driven insight. Corelight equips security teams with the world’s best network evidence so they can close investigations quickly, even when incidents go back years.

Brian Dye, CEO of Corelight, said He is grateful to their investors’ partnership as they help organizations worldwide. Transfer to a data-driven security strategy because this latest investment is a powerful affirmation. Network detection and response category and our open-source heritage, data-centric approach, and commitment to customer success.

First investor EIP is a global investment platform back by a large combination of forward-looking utilities and industrial partners and concentrated on investing in cybersecurity, utility infrastructure, and the broader energy transition, digital transformation.

EIP’s focus on critical infrastructure providers highly aligned with both mission and market tractions. It is essential to support these institutions to protect against increasingly sophisticated attackers, given their role in society and the economy.

Shawn Cherian, partner at EIP said, Corelight’s robust NDR technology, rooted in open source, has had a strong impact across industries and is swiftly becoming the de-facto standard for sophisticated defenders. They look forward to supporting them as they expand their existing footprint within the sustainable energy, manufacturing, and other critical infrastructure sectors.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Overjet Funded $27M to Accelerate AI Dental and Global Market

Dental

Overjet, a Boston MA-based, is a developer of advanced dental technologies designed to reduce costs and improve the quality of dental care.

Overjet was funded $27 million in Series A financing was led by General Catalyst and Insight Partners, with strategic angel investors and additional backing from the E14 Fund.

The company plans for the gain are two: The money will support Overjet’s goal of bringing its existing platform to dental clinics around the country. While also funding the development of new AI-based tools and systems to improve dentistry.

The mission of Overjet is to improve oral healthcare for all. That is the reason Overjet’s dental AI products design to help dentists deliver the best patient care and enable dental insurers to operate more accurately and efficiently.

Today’s financing follows the FDA’s recent clearance of Overjet’s Dental AssistTM product designed for dental practices, the first dental AI company to receive such approval.

The flagship feature of the Dental Assist program is the deep learning-based technology at its core that can perform real-time analyses of dental X-rays. The AI trained to measure bone loss in these images, making it easier for dentists and hygienists to diagnose periodontal disease. Which estimated to hit roughly half of all U.S. adults and, in severe untreated cases, can cause pain and tooth loss.

The program designed to cut down on imaging and diagnosis significantly. It works in real-time and eliminates the need for dentists to study X-rays to measure bone levels manually.

Chris Bischoff, Managing Director of General Catalyst, said that Overjet improves patient care by automating much of the clinical review process with AI. Thus, helping clinicians increase diagnostic quality, consistency, and speed. That means why they are excited to partner with Wardah Inam and the entire Overjet team to deliver on the vision of health assurance in dentistry. Creating a win for patients, as well as insurers and clinicians.

The company hopes to receive further FDA clearances. Next, expand the AI’s reach beyond gum disease, enabling the software to identify and assess cavities, tartar, impacted teeth, and other dental concerns.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Diamond Age Funded $8M for Robotic and 3d Printing Home Construction Advancement

Home

Diamond Age is a developer of a robotic construction technology intends to fix labor shortage issues in construction. The Bay Area startup focuses on automating the construction process by developing a suite of automated devices that diminish the manual labor needed to build new home by more than half.

Diamond Age was funded $8 million seed round led by Prime Movers Lab and Alpaca VC with participation from Dolby Family Ventures, Calm Ventures, angel funding Gaingels, GFA, Venture Partners, Suffolk Construction, Towerview Ventures.

The startup studies to put a slew of key emerging technologies to work in constructing houses with several workers in a significantly trimmed time frame. Diamond Age declares that when fully completed, its tech will reduce manual human labor by 55%. As a result, shorten the construction time on a single-family home from nine months to 30 days.

Precisely, the company relies on robotic and 3D printing solutions. The past involves a set of 26 different robotic arm attachments to help with the construction. That tech is link with a gantry-based 3D printing technology designed to assemble the interior and exterior walls of the house. These efficiencies could dramatically reduce the almost a million single-family home shortages in the U.S. housing market.

Diamond Age will use the new funding to scale its robotics platform advancement and produce a 1,100 square foot demonstration house. In addition, this fund will help Diamond Age partner with home builders and developers to turn the home building into an on-demand product. And give buyers more options when designing their home.

Suzanne Fletcher, the Prime Movers Lab General Partner, said that construction is still an old-fashioned industry that has yet to experience the comprehensive benefit of technology. As a result, it is plague with inefficiency and massive labor shortages. Because of that, Diamond Age is building a genuinely transformative system that will change the buying and building of new production homes forever.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Agora Funded $33M to Make it Easier the Procurement of Construction Industry

construction

Agora is a company based in San Francisco, CA. Also, a developer of a cloud-based construction management software designed to help contractors in materials management and procurement.

Agora was funded $33 million led the Series B funding round by Tiger Global, with additional critical investments from 8VC, Tishman Speyer, DST, angel investors Jerry Yang, Michael Ovitz, LeFrak, and Kevin Hartz.

The company plans to employ the funds to organize and trace materials, automate manual data entry, and bring all its supply chain stakeholders together upon a single platform for seamless interaction.

Maria Rioumine and Ryan Gibson have founded Agora. To make it easier for commercial trade contractors to order and track materials, automate manual data entry, and give everyone involved in the procurement process a single platform by which they can communicate with each other.

Commercial trade contractors over the US still rely on manual, pen-and-paper methods too often to operate their stocks chains. Service teams are overburdened with manual data entry and must rely on old systems that don’t work with each other. Area teams have no simple way to choose the precise materials they need and track them to delivery. These inefficient processes delayed contractors down and drive to miscommunication, project delays, and massive waste.

Agora’s software resolution is a critical component in decreasing the cost of construction, helping deliver essential projects that empower local communities faster and more efficiently, and reducing materials waste.

During the pandemic, contractors across the country faced severe supply chain disruptions and material price fluctuations. As a result, many turned to Agora to help them manage quotes across different vendors more quickly and lock in prices in advance.

Using the platform does explicitly things like giving contractors the ability to customize templates, create pre-approved materials lists and quickly reorder frequently needed items, order from a catalog that offers more than 400,000 SKUs, and eliminate manual data entry, which reduces errors and automates basic processes.

John Curtius, a partner at Tiger Global, said, That Agora’s platform gives industry-leading knowledge for commercial trade contractors and is a game-changer in improving how construction works. They are passionate about Agora’s strong traction, ridiculous market opportunity, and proven track record of client success.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Lucid Lane Funded $16M to Expand the Real-time Medication Services

Medication

Lucid Lane is a provider of health services aimed to support people living with medication dependency. The company’s services deal with mental health therapy, pain relief, opioids, and benzodiazepine management. And relapse prevention, thereby enabling patients to reduce their pain and improve mental wellness.

Lucid Lane funded $16 million led by Accel with Battery Ventures, AME Cloud Ventures, Morado Ventures, and strategic angel funding.

The company intends to use the funds on several improvements, including its strong analytics engine that brings personalized and context-sensitive medication and support in real-time. It has also expanded its services to address a broader spectrum of needs.

Millions of people in America are prescribe opioids and benzodiazepines to ease physical pain and mental health challenges.

The problem is comprehensive and complex. However, at its core is the need to consistently combine medical, behavioral, and motivational care to achieve patient freedom from dependence or addiction. Sadly, the current medical system is not set up well to deliver integrated type of care.

Patients, doctors, and payers are all sad with the current results. Yet doctors especially stuck in the middle. As a result, patients with pain demand more prescriptions from their doctors, and regulators and insurance companies pressure them to prescribe fewer drugs.

Lucid Lane provides a solution for patients, doctors, and payers. Lucid Lane has lengthened its services to offer drug reduction management services for people who rely on opioids, benzodiazepines, alcohol, and nicotine and Medication-Assisted Treatment for patients diagnosed with substance disorder specifically for opioids and alcohol.

The technology of Lucid Lanes is enabling its programs to occur in the safest possible environments. Its web and mobile-based application provide remote patient monitoring and allows members to communicate with their dedicated therapists daily. Lucid Lane’s modern analytics engine brings out abounding health signs from patients to evaluate symptoms like depression, pain levels, anxiety, and withdrawal effects and personalize their treatment. In addition, the analytics engine identifies patients who need help and can connect them immediately with an on-call counselor.

This company has grown tremendously in both patients served and overall revenue, reaching the incredible demand for its services last year. As a result, lucid Lane now works with many hospitals, pain clinics, primary care providers, recovery centers, and other specialties in the United States.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Hightouch Funded $12.1M to Innovate Data and Service

service

Hightouch is a SaaS service that helps businesses sync their customer data across sales and marketing tools based in San Francisco, CA.

Hightouch was funded $12.1 million led by Amplify Partners with contribution from latest investor Bain Capital Ventures and come back investors Afore Capital and Y Combinator. In addition of angel investors such as the founders and CEOs of companies.

The company will apply the new financing to reinforce product growth and innovations that will allow fewer technical business teams to control the power of data in the tools they use daily.

Hightouch established on the idea that every business team—sales, marketing, support, success—needs pertinent, correct, and real-time customer data in the software they use to talk to customers, including CRM, email, and support service.

The data warehouse becomes the source of integrity for all information across a company. Still, the story usually ends there because tooling focused on getting data into the warehouse rather than out.

The data warehouse was always the slow, low-cost datastore that served as a backup for all information over the company. It gives companies security that they do not overlooked information, and it is constantly save.

At present, that data warehouses have gotten faster thanks to products like Snowflake and BigQuery. As a result, companies are beginning to notice they can include the data warehouse as part of their operational workflow.

Kashish Gupta, co-founder of Hightouch said, their vision is to make data accessible and valuable to everyone. Rapid growth is a vital sign that all teams, not just data teams, have an appetite for using warehouse data to power the entire customer data stack. They’re excited to continue to build tools that help every team deliver better experiences to their customers, whether B2B or B2C.

Lenny Pruss, the general partner at Amplify Ventures, said that the cloud data warehouse had become the source of truth for organizations’ data. As a result, they’ve seen an enormous market opportunity appear for a new set of tools that help operationalize and extract value from that data. So to decide to partner with Hightouch was easy. They are convince by their category-defining product, expansive vision, and the quality service of the team.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Guidewheel Funded $8M to Empower Factories in Digitize World

Digitize

Guidewheel is a manufacturing tech leader in San Francisco, CA. That cloud-powered FactoryOps, empowering all the world’s factories to digitize their operations and reach sustainable peak performance.

Guidewheel was funded an $8 million Series A funding round led by Greycroft was joined in the round by leading firms, angels funding, and Fortune 500 executives. This company aims to use the new capital to expedite growth, expand the factories to digitize their operations, and reach sustainable peak performance and business reach.

The funding brings Guidewheel closer to its vision of empowering all factories to reach sustainable peak performance. While the world’s most giant factories use complicated systems to optimize efficiency, small and midsize manufacturers often mix the different machine makes models and ages with information in silos that don’t connect. It leaves teams to struggle with manual data entry and bring out fires. Manufacturers commonly lose more than 20 percent of production time as a result, at the cost of over $3 trillion in waste each year.

Mark Terbeek, Partner at Greycroft, said Guidewheel had built the real-time data platform we believe will help create manufacturing. It is a straightforward yet powerful platform that comes when factory performance is critical to survival for manufacturers and the supply chain overall.

Guidewheel’s plug-and-play FactoryOps platform turns the real-time of any machine into a connected, actively learning system for continuous improvement. Actively learning system delegate teams to diminish lost production time, increase output, and improve over time. As a result, groups can lengthen and progress at their own pace—the more they use Guidewheel, the more they get out of it.

Guidewheel platform helps any factory team get to operational excellence quickly, cost-effectively, and swiftly expanded to 100+ plants across Mexico, East Africa, and the USA.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Lightyear Funded $13.1M for New Telecom Procurement Features

Telecom

Lightyear, a New York City startup that develops cloud-based software to produce IT services, telecom network infrastructure, and manages service contracts.

Lightyear was funded $13.1 million, led by Ridge Ventures with participation from Zigg Capital and a slew of individual angel investors. This company plans to use the investment to boost hiring and resources development and new product features platform.

The company started in mid- 2019 intending to fix the problems that had plagued enterprise telecom buyers for decades, but they vastly underestimated the scope of the issue ahead of them. Data on serviceability and pricing is hard to come by and frequently inaccurate. The provider universe is in the thousands, and processes across carriers for a quote through renewal are not standardize.

Lightyear has two primary offerings. First, Lightyear’s procuring dashboard allows enterprises to buy telecom network infrastructure services. They are spanning internet and WAN connectivity, collocation services, and voice systems. Second, once contracts signed, Lightyear Manage lets customers oversee implementation, track network inventory, handle carrier issues and automate renewal bidding.

These solutions cover the entire life cycle of services, including configuring a more extensive array of services, assisting in managing the installation of the services, and helping reduce the number of delays and errors in installs.

The good reasons why Lightyear hadn’t successfully built a software business before. It’s their deep appreciation and respect for the problem set ahead of them that has given them attain so much in so little time to date.

Dennis Thankachan, CEO and co-founder, says the company has acquired customers by giving the latest way to procure network resources, which was a significant improvement over manual negotiating. 

Today, Lightyear boasts 500+ vendor relationships spanning the globe and has processed quotes for tens of thousands of services. In addition, they manage millions of dollars of telecom spend for hundreds of enterprise users, including several public companies.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

10 Tips For Business Startup Owners

Owners

Every business owners can use some advice when it comes to making sure their business startup gets off on the right foot. From the best way to run your business to following your dreams, these tips offer sound recommendations that can help your business startup maintain its operations and find success at every turn.

Sure, your business may run into challenges, and you may make some mistakes along the way, but it is how you recover that matters. Use these tips to your advantage when it comes to ensuring you avoid the pitfalls that others have fallen into as a first-time entrepreneur.

1.      Be Passionate About What You Do

When it comes to business, the owners doing what you love makes it that much easier to do well. Find a business that you can excel at and throw yourself into. You should have an underlying passion for the market, product, service, or brand that you are selling. In order for it to succeed in the market place, you need to believe in it, and then your customers will follow suit.

2.      Believe In Yourself

Every business owners doubt themselves at one time or another, but you need to fully believe in your capabilities. Mistakes are inevitable, but understanding that you will fail at times can help you rebound and move forward with great resilience. Recognize that you have what it takes to make it and send that doubt packing as only when you truly believe in yourself and what you are doing will success come knocking at your door.

3.      Listen To Advice From Others

Many others have come before you with their own business startups. Learn from their challenges and heed their advice. They can allow you to steer clear of potential issues and make it easier for you to operate as a business startup. From finding funding to working with an angel investor, other entrepreneurs have experience that you can gain from and use to your advantage if you are willing to listen.

4.      Watch Your Overhead

Business owners need to realize that you are business startup out of the gate. This means watching the cash flow and setting up shop in that swank office building on 5th Avenue may not be a possibility at this time. Keep things simple and observe the cost structure. It may need cash down the road and being on the hook for high rents or loan commitments can make it difficult to spread the wings. Have patience and watch for the right opportunity to grow.

5.      Know Your Competition

Ignoring your competition as a business startup will get you nowhere. Be sure to thoroughly investigate everything there is to know about your competition and make your products and services better. Find out where your competitors are lacking and seize this opportunity to secure market share. Knowing your competition can give you that leg up your need to get ahead in the market and appeal to consumers in a new way. Do your homework and keep an eye on your competitors at all times.

6.      Practice Your Pitch

You are the greatest salesperson for your business startup. Whether you are looking to secure funding from an angel investor or looking to gain more customer loyalty, you need to have a pitch on the ready to tell anyone and everyone you come in contact with. Be concise in your approach and be sure to mention your goals, values, and vision. You never know who you’ll meet, and you need to be ready with a pitch that impresses.

7.      Get Out And Network

Networking is a key part of any entrepreneur’s success. Connecting with others in the industry can help you develop relationships that may come in handy for your business startup down the road. Plus, you will continue to learn from these individuals and a new opportunity with one of them may be just around the corner.

8.      Ask For Help

As much as you want to do it all, there comes a time when we all need to ask for help. There is no shame in getting someone involved in your business startup to help take it to the next level. You are going to need help as time goes on to evolve your company and reaching out to someone you trust may be the best thing that you can do for your business startup. You’ll be able to offload some of the burdens and free yourself up to focus on new projects that have been sitting on the back burner.

9.      Continue Learning

With the most successful CEOs reading four to five books a month, taking a page from their playbook can help extend owners business startup and move it forward in new ways. Keep the door open and continue to educate their selves by learning from others. Reading books that focus on self-help, business, motivation, leadership, and communication can continue to motivate them and their company. If keep their learning continuous, they’ll find plenty of new ideas just waiting to be realized.

10. Don’t Give Up

Above all don’t give up on yourself. Even when times get tough, and you feel like throwing in the towel. Take a step back and appreciate how far you have come. If you have the drive and motivation to succeed the potential to make it in the market is there. You need to believe that you can do it and push yourself harder than you have ever done before. With hard work comes success and you are most likely just on the cusp of winning.

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