It last raised a $50M Series C funding round in 2021.
TransferGo claims the new investment doubles its valuation to around $600M, from the $200M-$300M Dealroom valued it at back in September 2021.
We achieved sustainability of the business and became profitable and we still have proceeds from the last funding round.
We don’t need external capital to grow.”However, he saw the opportunity to raise funding from Asia to expand there.
“We are still taking customers from incumbents: 75% come from cash, banks, and Western Union — that’s still the gorilla in the room.”He puts TransferGo’s growth down to focusing on the consumer experience.
The State Department blamed the prolific ransomware group for targeting U.S. critical infrastructure, including healthcare services.
Last month, an affiliate group of the ALPHV/BlackCat gang took credit for a cyberattack and weeks-long outage at U.S. health tech giant Change Healthcare, which processes around one-in-three U.S. patient medical records.
The affiliate group went public after accusing the main ALPHV/BlackCat gang of swindling the contract hackers out of $22 million in ransom that Change Healthcare allegedly paid to prevent the mass leak of patient records.
Change Healthcare has said since that it ejected the hackers from its network and restored much of its systems.
U.S. health insurance giant UnitedHealth Group, the parent company of Change Healthcare, has not yet confirmed if any patient data was stolen.
You could spend it training a generative AI model.
See Databricks’ DBRX, a new generative AI model announced today akin to OpenAI’s GPT series and Google’s Gemini.
Customers can privately host DBRX using Databricks’ Model Serving offering, Rao suggested, or they can work with Databricks to deploy DBRX on the hardware of their choosing.
It’s an easy way for customers to get started with the Databricks Mosaic AI generative AI tools.
And plenty of generative AI models come closer to the commonly understood definition of open source than DBRX.
The Carevoice, an embedded insurance solution provider that started in Shanghai and now has a footprint across 15 countries, has apparently made that math look attractive to investors in the space.
The company just raised $10 million from a Series B financing led by U.K.-based Apis Insurtech Fund I, which contributed to most of the round.
In 2023, U.S.-based digital health startups raised a total of $10.7 billion across 492 deals, the lowest amount since 2019, according to Rock Health, a health tech-focused seed fund.
That funding slowdown also hit The Carevoice, though it weathered the storm by reaching healthy cash flow.
Embedded health solution providers like The Carevoice can find themselves competing with traditional IT and consulting service companies, such as Tata’s TCS.
For co-founder and CEO Dayo Esho, the idea for TravelJoy emerged from his experiences growing up in the travel industry, supporting his mom’s travel agency business.
The co-founders began working TravelJoy in 2018, while participating in NFX’s accelerator.
The company also recently added integrations with travel insurance provider Faye and Viator, a marketplace for travel experiences.
The idea is to centralize the travel entrepreneur’s workflow, with CRM, messaging, invoicing, payments, proposals, itineraries, and group trip management in one digital solution.
Despite the pandemic’s massive and immediate impact on global travel, TravelJoy surprisingly didn’t shut down.
This week’s Pitch Deck Teardown comes to you from the PCB-laden confines of CES in Las Vegas.
Today, we’re looking at the slide deck that video analytics firm Qortex used to raise a $10 million seed round.
To be honest, I’m a little surprised the company managed to raise money at all with this pitch deck, but the fact that it did manage to raise $10 million is a good reminder that the deck is only a part of the puzzle.
In the rest of this teardown, we’ll take a look at three things Qortex could have improved or done differently, along with its full pitch deck!
Three things that could be improvedAbove, I noted the glaring absence of several key slides that investors usually like to see in a pitch deck.
Lingrove is taking on laminates — thin layers of wood and other materials — with a carbon-negative option that they claim performs better while looking as good.
Lingrove has developed a wood veneer alternative out of flax fiber and plant-based resins that’s carbon-negative yet results in a material they say is “very high stiffness, durable, and resistant,” i.e.
They call it “ekoa” — yes, in lowercase — and hope to make inroads in cars and other interior surfaces with a new $10 million funding round.
The Series B round was led by Lewis & Clark Agrifood and Diamond Edge Ventures, with participation from Bunge Ventures and SOSV.
You may wonder, as I did, why not use actual wood — things like sawdust and wood chips already coming out of industrial wood-handling processes?
The location-based social network, which launched earlier this year in March, wants to help people focus on real-life connections and make friends.
Jagat is somewhat similar to Snap-owned Zenly, a social map app that shut down last year.
Your social map is what you see when you open Jagat, as it’s where you see your friends’ locations in real-time.
“We want to bring back social in social apps – focusing on social networking and not media,” Beagen said.
Around 85% of Jagat users are part of GenZ.
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