Solovis Raises $8M to Accelerate Growth

DALLASMay 9, 2017 /PRNewswire/ — Solovis, a multi-asset class portfolio management, analytics and reporting platform for limited partners and asset allocators, today announced it has raised $8 million in a Series A round. The funding was led by Edison Partners, a leading growth equity capital firm based in Princeton, NJ. Previous investors MissionOG, OCA Ventures, Timberline Ventures, Northwestern University, and Backstop Solutions co-founder Jeremie Bacon also participated. Joining the consortium this round is Cultivation Ventures, a venture capital firm specializing in technology and life sciences, with several partners who have worked in investment management technology.

“During the last year, Solovis has experienced 300 percent growth with top-tier endowments, foundations, and family offices adopting its platform, helping to establish the company as the emerging industry standard for multi-asset class managers,” says Tom Vander Schaaff, General Partner, who led the investment for Edison. “We are impressed by Solovis’ rapid growth, deep roster of marquee customers, and its market leadership position. The financing will allow Solovis to continue to expand its solutions and magnify its significant impact on the industry,” he added.

Solovis provides a holistic, open architecture approach to multi-asset class portfolio management. Built by industry practitioners with extensive experience in private equity, hedge funds, and traditional asset classes, the company offers a flexible, robust platform for performance, exposures, liquidity and cash flow forecasting with front-to-back office integration, eliminating multiple system solutions and error-prone spreadsheets. “When you speak with Solovis, you can immediately tell they have been in your seat and speak your language. The system was built from the bottom-up to specifically address the challenges of multi-asset class investing. That made all the difference in the world to us and has been invaluable in synthesizing disparate data efficiently,” says Brandon Pevnick of the JFMC Pooled Endowment Portfolio.

With this Series A financing, Solovis will significantly expand its team in Dallas, TX and Charlottesville, VA, as well as establish a presence in New York, NY and San Francisco, CA. “This round will deepen and expand our Dynamic Forecasting suite and strengthen our ability to address the growing demand for our Analyst Services, a big differentiator for us in the marketplace cementing Solovis’ position as a strategic partner for limited partner and asset allocators,” says Solovis co-founder and CEO Josh Smith.

Tenor moves to monetize GIFs with launch of real-time analytics tool and ad product

Tenor is hoping to take advantage of people’s infatuation with animated GIFs by launching two tools that help brands bring their message to the more than 200 million monthly users who search for the right GIF across mobile messaging apps. The company is taking the first steps in monetizing its service with the launch of a real-time analytics tool called Tenor Insights, which will educate marketers on GIF usage and the availability of sponsored GIFs.

After more than three years, Tenor wants to bring in some money, and it believes its approach is unique. What Google offers around intent and Facebook does with social data, Tenor believes it can do around emotion. Its reach is certainly vast, with integrations into FacebookFacebook MessengerTwitteriMessage, and others. But in order to get brands to buy in, it needs to convince them that emotions are worth betting on.

Tenor Insights is similar to the keyword research tool that’s available from Google AdWords. It’ll report the top emotions people are expressing within messages, which can be sorted by time of day, week, or specific event, along with pertinent search terms that brands may be interested in, and insights into how different feelings are tied into GIFs.

It’s said that a picture is worth a thousand words, and Tenor is banking on the idea that GIFs could result in more sales conversions than sentiment analysis or even a keyword can. When you see a happy dance GIF, it immediately tells you the sender’s state of mind — and perhaps what they’re interested in — whereas if you try to analyze their tweet, post, or message you may be limited to an overall positive or negative sentiment. And a keyword doesn’t necessarily reflect a person’s emotional state.

“The challenge for sentiment is that people aren’t saying things publicly at all,” stated Tenor chief executive David McIntosh in an interview with VentureBeat. Current advertising offerings are looking at the public space, such as social networks and search engines. But with GIFs, Tenor is able to cross into harder to reach areas, such as instant or text messages, and it’s here that valuable intelligence could be gathered. “Our signal is super strong. People are going to Tenor because I’m super upset and want to express that,” he said.

“We’ve never offered analytics before,” McIntosh explained. “We’ve put out data on an ad hoc basis, but now we let any marketer understand insights in what [people are] thinking, and in sheer volume. If you’re a brand, you don’t know where there’s a lot of volume around people saying ‘good morning’ and turning [users] into brand ambassadors.”

Ultimately, where the company could be going is a programmatic sponsored GIF program that lets brands bid for images that suit their campaign. You’ll start to see some of these creative GIFs in the wild, but the feature’s not available through a self-service model. Instead, brands have to work directly with Tenor’s team to implement them. Earlier this year, the company launched a pilot program around the Warner Bros. movie LEGO Batman. The program showed associated GIFs when people searched for terms like “high five,” “whoa,” “let’s go,” “smirk,” “shrug,” “flirty,” and “no.”

Helping lead the charge to develop an emotional graph and increase adoption by brands is Jason Krebs, Tenor’s chief business officer, who joined last month after a tour at Maker Studios as its head of sales. He admits that it’s “too soon to tell whether people will jump head over heels for this new paradigm,” but he said that “brands have a lot of stories to tell” and that GIFs could play an important role in the future.

“For Dominos, when someone searches for ‘best day ever’, [the pizza maker] can sponsor GIFs. It’s about giving marketers an opportunity to help customers express emotion using products they love,” McIntosh said. “With this tool, step one is to help brands understand the volume that’s out there. Most people out there don’t know how many people search ‘good morning’ every month. We want to own the visual language.”

SpotHero snaps up rival Parking Panda to boost its B2B credentials and expand into Canada

 

Veterans respond well to home-based cardiac rehab, Moving Analytics, app, VA study shows

April 06, 2017
While it’s not uncommon for patients at the Atlanta Veterans Affairs Medical Center to have had a heart attack or cardiac procedure, few participate in rehabilitation programs after. But give them a smartphone-based rehab program, and they seem to take to it, suggests a small study of Veterans.

Using the home-based virtual rehab program from Moving Analytics over a period of 12 weeks, 23 Veterans felt encouraged and engaged with their recovery, which led to better fitness outcomes. With high retention rates and improved functional and clinical health, apps could be an easy, inexpensive way to get more Vets to enroll in cardiac rehab programs.

“When we reviewed our internal data, we realized that only 10 percent of our eligible Veterans were successfully enrolling in a cardiac rehab program. This made us realize that we could do a lot more to help the remaining 90 percent receive the same benefits that cardiac rehab provides,” Dr. Arash Harzand, research fellow at the Atlanta VA and co-investigator said when the pilot first launched.

To start the program, Veterans and a healthcare professional provided the data required for the app to make a clinical evaluation, from which a tailored home rehab program was created. Veterans would check in on the app daily to log exercises and metrics like blood pressure and weight, and would also connect with a cardiac nurse for phone-based coaching. Nurses reviewed progress remotely via the Moving Analytics integrated cloud-based dashboard.

The Veterans were into it, and the VA Center for Innovation-funded study had an 80 percent retention rate 90 days later. They also saw a 20 percent improvement in functional capacity and a reduced systolic blood pressure of 10 mmHg from baseline. Considering the older age range and historically low turnout for other cardiac rehab programs, the investigators were impressed at how well the Veterans responded to the app.

“What surprised us was how well Veterans embraced the technology,” Harzand said in a statement. “Our work showed us that it’s feasible to utilize smartphones and digital tools to engage and coach this population effectively.”

Likewise, care managers also reported high satisfaction with the app, and the Atlanta VA team plans to expand the Moving Analytics platform to more patients across multiple sites.

“Delivering virtual cardiac rehabilitation via smartphones is a great example of a powerful tool that can help improve the experience of Veterans receiving care from the VA to help improve both their health and quality of life” Andrea Ippolito, Innovators Network Lead at the VA Center for Innovation said in a statement.

In addition to the VA, San Francisco-based Moving Analytics works with several large health systems including the Mayo Clinic, NYU Langone Medical Center and the Keck School of Medicine at the University of Southern California.

New Money: LogicGate Raises $1.9M to Help Businesses Automate Risk and Compliance

Deal: $1.9 million seed round

Investors: Chicago Ventures, OCA Ventures, Hyde Park Venture Partners, MATH Venture Partners, Techstars Ventures, Firestarter Fund, Sandalphon Capital, and Connetic Ventures.

What they do: LogicGate provides a platform for growing and established businesses to create highly-controlled, auditable applications, as well as “mission-critical” compliance processes. The LogicGate platform allows businesses to create a drag-and-drop flow chart of their business processes to create an app (without writing any code), or use one of their pre-created templates that cover processes such as regulatory change management, incident management and audit management. LogicGate focuses on six industries, including education, financial services, healthcare, retail, energy, pharma and life sciences.

“We’ve found that many companies have been managing critical compliance and regulatory processes with what we call ‘duct tape and bubble gum’ – using spreadsheets, emails, and even paper and pencil. That works up until a point, but when it fails it can cause massive disruption for an organization,” said Matt Kunkel, CEO and cofounder of LogicGate, in a statement. “Our mission is to provide an agile, self-service platform that automates many of the governance, risk, and compliance activities within an organization. This round of fundraising will help us begin to scale our sales and marketing operations and accelerate our engineering efforts.”

Other details: The startup was founded in 2015 by former risk, compliance and legal technology consultants Matt Kunkel, Jon Siegler, and Dan Campbell. LogicGate was a part of the Techstars Chicago 2016 class.

They plan on using the funding to grow sales and marketing, as well as expand the LogicGate platform. In the future, they hope to create an “intelligent learning engine” that can learn business processes, and take corrective measures without any employee intervention.