Custom Ink Welcomes New Investors Led by Great Hill Partners

FAIRFAX, Va. & BOSTON–(BUSINESS WIRE)–Apr 4, 2019–Custom Ink, the leader in custom apparel for groups, companies, and communities, today announced it has entered into a definitive agreement with an investor group led by Great Hill Partners, a leading growth-oriented private equity firm, to recapitalize the company for its next chapter of growth and innovation. Custom Ink’s current management team will continue to lead the company, with Co-founder Marc Katz remaining a major shareholder as well as Chairman & CEO. Custom Ink’s current shareholders, including Revolution Growth and SWaN & Legend Venture Partners, will exit their investments. Financial terms of the private transaction were not disclosed.

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Founded in 2000, Custom Ink helps people create a sense of belonging and community within their schools, teams, businesses, charities, and other groups through digitally-powered solutions for the design, ordering, production, and delivery of customized apparel and other products. The company’s strong brand, robust platform, and caring and capable team have made it the leader in the custom apparel market with projected 2019 revenues exceeding $400 million. Custom Ink’s core values – The Golden Rule, Ownership and Innovation – and purpose-driven culture have earned it a perennial place on local and national “best places to work” lists and fueled industry-leading customer satisfaction and employee engagement.

“This is a really important milestone for Custom Ink,” said Katz. “It’s a testament to the great work of our team over the past 19 years, and it positions us well for the future. Our early investors were friends, family, and angels who saw the potential in Custom Ink, and more recent investors provided expertise and support to accelerate our growth. Now they are passing the baton to our new partners, who also embrace our values and vision. Great Hill in particular has an outstanding track-record of enhancing ecommerce and direct-to-customer companies that are similarly passionate about marketplace and workplace excellence. I think they’re an ideal partner to help us continue to build out our unique brand, offering, and platform.”

Great Hill Partners has deep experience investing in highly differentiated business models across the consumer, e-commerce, and retail sectors. The firm has a long history of backing native digital and omni-channel brands, such as Wayfair, Bombas, The RealReal, and The Shade Store.

“Custom Ink helped pioneer online customization and has created the industry’s leading end-to-end digitally-powered platform for customized apparel,” said Michael Kumin, a Managing Partner at Great Hill Partners. “This is a terrific brand with outstanding operations in a highly-fragmented category where we see huge growth potential for the company. We’re thrilled to back Marc and the team and are excited to help Custom Ink extend its market leadership, both organically and inorganically.”

Ted Leonsis, co-founder and partner at Revolution Growth, said, “When Revolution first invested in Custom Ink in 2013, we were impressed with how the company was using technology, combined with a passion for service, to revolutionize the custom apparel category and bring people together. We saw power in Custom Ink’s community-driven growth model, and this has proven to be a very successful investment. We’re proud of our role at Custom Ink and think Great Hill will be an excellent partner for the company’s next stage.”

Fred Schaufeld, SWaN co-founder and partner and longtime Custom Ink adviser, will remain an investor and board member in a personal capacity. Said Schaufeld, “Custom Ink is a wonderful story of creativity, determination, and striving to do the right thing. This was an excellent outcome for SWaN, and I couldn’t be more excited for Marc and the team. It’s a great company that will continue to do great things.”

The transaction is expected to close in May. Investing alongside Great Hill is HarbourVest Partners, a global private markets asset manager. GSO Capital Partners is providing committed debt financing as well as an equity investment in connection with the transaction. Guggenheim Securities LLC and DLA Piper advised Custom Ink on financial and legal matters, respectively.

About Custom Ink

Custom Ink is the leader in custom apparel and accessories for groups, events, and special occasions. The company helps group organizers bring their families, friends, teammates, and colleagues together with inspired designs they are proud to wear. Custom Ink makes the customization process fun and easy with innovative design tools, caring customer service, creative design inspiration and high-quality merchandise. It also offers Custom Ink Fundraising, a platform to raise money and awareness for charities and personal causes through the sale of custom t-shirts. Its influencer-led custom apparel platform, Represent, helps actors, athletes, musicians, thought leaders, and social media icons create and sell limited-run t-shirts and merchandise to their fans. Custom Ink is based in Fairfax, Virginia with other locations that include Charlottesville, Virginia; Reno, Nevada; Dallas, Texas; and Los Angeles, California.

About Great Hill Partners

Great Hill Partners is a private equity firm that has raised over $5 billion in commitments since inception to finance the expansion, recapitalization, or acquisition of growth companies in a wide range of sectors in business-to-consumer and business-to-business industries including eCommerce, software, financial and healthcare technology, digital media and internet infrastructure. For more information, visit www.greathillpartners.com.

About HarbourVest

HarbourVest is an independent, global private markets asset manager with more than 36 years of experience and more than $58 billion in assets under management. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 500 employees, including more than 100 investment professionals across Asia, Europe, and the Americas. This global team has committed more than $35 billion to newly-formed funds, completed over $19 billion in secondary purchases, and invested over $9 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, actionable insights, and proven results.

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CONTACT: For Custom Ink:

Andrew Weinstein

Ridgeback Communications

202-667-4967

aweinstein@customink.com

For Great Hill Partners:

Charlyn Lusk

Stanton Public Relations

646-502-3549

clusk@stantonprm.com

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS VIRGINIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE RETAIL FASHION

SOURCE: Great Hill Partners

Copyright Business Wire 2019.

PUB: 04/04/2019 07:00 AM/DISC: 04/04/2019 07:00 AM

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Startup Matching Foreign Med Students With U.S. Rotations Raises $2.2M

A Chicago startup with ties to the University of Chicago that provides international medical students and graduates with clinical training at U.S. healthcare systems just raised a new round of funding.

AMOpportunities announced Monday that it has raised $2.2 million from investors, such as OCA Ventures, HealthX Ventures, Wildcat and M25 Group. The University of Chicago also invested.

The new funding brings AMOpportunities’ total funding to nearly $3.3 million.

The startup says it will use the new financing to scale its clinical visitor platform, which will be designed for use by U.S. hospitals and foreign medical schools.

Founded in 2013 by Kyle Swinsky and Benjamin Bradley, AMOpportunities makes a platform that allows medical students to find month-long clinical rotations at U.S. healthcare systems that match with their specialty and experience level. AMOpportunities makes money from fees it charges students for available rotations.

Participating in rotation programs in the U.S. is required before foreign-educated doctors can practice in the U.S.

“To thrive, the American healthcare system needs doctors from all over the world,” Swinsky said in a statement. “Without these international trainees, the U.S. will experience a devastating physician shortage. We need these international physicians to ensure our healthcare system survives. Diversity and immigration will only make our country stronger.”

AMOpportunities, which won the 2017 University of Chicago New Venture Challenge, has hosted more than 2,500 visitors across over 200 clinical sites in the U.S. since launching. The startup now has affiliations and partnerships with health systems, such as the University of Illinois Chicago, University of Miami and Saint Anthony Hospital.

Chicago VC Firm OCA Ventures Opens Silicon Valley Office

By Jim Dallke -February 27, 2019

OCA Ventures, a 20-year-old Chicago-based venture capital firm, is heading west with the opening of an office in Silicon Valley.

OCA announced that it has hired Kevin McQuillan, a longtime venture investor and co-founder of Focus Ventures, to lead the firm’s West Coast operations. McQuillan, a five-time member of Forbes’ “Midas List,” a ranking of the top venture capital investors, previously led investments in startups such as Sensity (acquired by Verizon) and Paydiant (acquired by PayPal). More than 20 of McQuillan’s startup investments have gone public.

Focus Ventures, based in Palo Alto, has invested $850 million in technology companies across three funds since launching in 1996.

The addition of McQuillan and the opening of an office in the Valley have less to do with increasing OCA’s investments in West Coast startups, and more about adding value to the firm’s existing portfolio companies, OCA CEO Jim Dugan explained. Having a physical presence in Silicon Valley will help the firm strengthen its relationships with larger venture firms who can provide expansion capital to OCA’s portfolio companies as they grow.

“We’ve been doing business now in venture for 20 years. The heartbeat of the ecosystem is in the Valley,” Dugan said. “This expansion for us is a continuation of us being able to add value to our portfolio companies, particularly for those later-stage rounds.”

OCA, which is investing out of its fourth fund, invests in Seed, Series A and Series B rounds. Its notable exits include Cleversafe (acquired by IBM), Tenor (acquired by Google) and TradeKing (acquired by Ally Financial). It also scored a win last year after DocuSign’s IPO. OCA invested in Cartavi, a Chicago-area software startup, which was acquired by DocuSign in 2013.

The Mom Project, a job site for moms returning to work, nabs $8M from Initialized and more

If you are a mother who has taken a break from full-time employment to raise kids, you may have also experienced the challenge that is jumping back into the working world after your break.

You may find you need more time flexibility; you have been out of the job market for years and so your confidence is knocked; your skills are no longer as relevant as they were before; or you just want to rethink your career; plus many employers — whether they say it or not — seem less interested in you because of all of the above, and no level of burnishing your resume on LinkedIn will help. It can be tough (and I say that from first-hand experience).

Now, Chicago-based startup The Mom Project, a platform specifically built to help female knowledge workers find jobs after pausing to raise kids, has raised a little egg of its own to take on this challenge. It’s picked up a Series A of $8 million that it plans to use to bring its job marketplace to more cities — it’s currently in Chicago, Atlanta and San Francisco — and to expand the kinds of services it offers to make the challenge of juggling work and parenthood easier.

The funding is being led by Grotech Ventures and Initialized Capital, with another new investor, Aspect Ventures, and previous backers Atlanta Seed Company, Engage Ventures, OCA Ventures, BBG Ventures, IrishAngels and Wintrust Financial also participating.

This brings the total raised by The Mom Project to $11 million, and with 75,000 registered moms and 1,000 companies, including Procter & Gamble, BP, Miller Coors and AT&T, the startup claims it’s now the largest platform of its kind in the U.S.

From selling diapers to changing diapers

Allison Robinson, the founder and CEO of The Mom Project, said she came up with the idea for the startup in 2016, when she was on maternity leave from a strategy role at Pampers.

“I started realising a lot about moms before I became one,” she says about her last role before striking out as an entrepreneur. “But what I hadn’t understood until I was on maternity leave myself was that your priorities can change after having a child.” (She’s pictured up above with her son.)

Citing a study she’d seen in the Harvard Business Review that estimated 43 percent of skilled women exit the workforce after having children, Robinson realised there was a gap in the market for those among them who had timed out from returning to their previous roles, but still wanted to make the leap back into working at some point.

And she has a point: Not only do people who decide they want to return to work face all of the usual issues of newly needing more time flexibility, wondering whether their skills are still current enough, general confidence and so on, but the average recruitment process, and job sites overall, do not really have ways to account for any of that very well.

And the gap exists on the employer side of the marketplace, too. Businesses — both large corporates very much in the public eye as well as smaller businesses that are not — are rethinking how they hire and keep good people in the overall competition for talent. (Just this week, the U.K.’s Office of National Statistics said that the number of unfilled positions in the information and communication technology sector rose by 24.3 percent compared to last year in the country, a shortage that’s reflected in other markets.)

Having a diverse workforce — including more women and women from different walks of life — is key not only to helping counteract that, but to contribute to better overall work culture. That’s a fact that many employers have realised independently or have simply been thrown into the spotlight unwittingly and now are trying to repair.

And yet, there haven’t been many opportunities for them to pursue more diverse hiring practices.

LinkedIn recently made a tiny move into exploring diversity in hiring by at least allowing recruiters to search their job candidate results by gender, but this is a far cry from actually addressing the specific predicaments that particular segments of the working population have, and how to help them connect better with employers who might be keen to bring more of them on through recruitment.

In fact, the idea of providing improved job search for knowledge workers in specific cases is actually a very interesting one that shows there is definitely still room for innovation in the world of recruitment: Handshake earlier this year raised $40 million for its own take on this, which is providing a better LinkedIn-style platform to connect minority university graduates with interesting job opportunities at companies keen to make their workforces more diverse.

“Companies have started to realize the value in building a diverse workforce, but we still have a long way to go in achieving equal representation and opportunities,” said Julia Taxin, a partner at Grotech and new Mom Project board member. “Allison and her team have built an incredible marketplace of diverse talent for companies and I look forward to working with The Mom Project to execute on their vision of helping to close the gender gap in the workplace.”

The Mom Project, Robinson said, is tackling the challenges at both ends of the spectrum.

On the employer side, she said there is a lot of educating going on, talking to HR people and getting them to understand the opportunity they could unlock by hiring more parents — which tend to be almost entirely all-women, but sometimes men, too.

“We want to provide more data to these companies,” she said, pointing out that it’s not just a matter of providing a job opportunity, but also giving parents options in areas like childcare, or flexible working schedules. “We want to show them ‘here is where you are doing well, and here is where you are not. Fixes don’t cost a lot of money, but a lot of companies are just not aware.”

“We’ve got 75,000 women on our platform, and currently around 1,000 companies posting jobs,” she said. “The goal is to have 75,000-plus jobs. We want to make sure that all the moms signing up on the platform are getting work.”

“The Mom Project is determined to create a future where women aren’t forced to choose between their families and their careers,” said Alda Leu Dennis, partner at Initialized Capital and new Mom Project board member, in a statement. “There is a huge pool of experienced talent, parents and non-parents, that is sometimes overlooked because companies haven’t created the kind of diverse, flexible workplace culture that attracts and retains them. Initialized wants to be part of making this cultural shift happen.”

On the parent side, not only is it also about making the platform known to people who are considering a return to work, but it’s also about some fundamental, but very important basics, such as giving would-be jobseekers the flexibility to go to interviews. Robinson said that one campaign it’s about to launch, in partnership with Urban Sitter, is to provide free childcare credits to Mom Project jobseekers so that they can get to their interview.

“Sometimes you have to go to an interview with 24 hours’ notice, and lining up a sitter can be stressful,” she said. “We want to alleviate that.”

Parents also know that this isn’t just an issue for the interview: Many towns and regions have what Robinson called “childcare deserts,” where there is a scarcity of affordable options to replace the parent on a more daily basis.

Contract work is king (and queen)

For now, Robinson said that the majority of jobs on the platform are focused on fixed-term employment — that is, not permanent, full-time work.

This is due to a number of reasons. For example, parents coming back to working after a break may be more inclined to ease in with shorter roles and less long-term commitment. And employers are still testing out how this demographic of workers will work out, so to speak. Equally, though, we have seen a huge swing in more general employment trends, where businesses are hiring fixed-term workers rather than full-time employees to account for seasonality and to give themselves more flexibility (not to mention less liability on the benefits front).

While Robinson said that the aim is definitely to bring more full-time job opportunities to the platform over time, this has nonetheless presented an interesting business opportunity to The Mom Project. The startup acts like Airbnb, Amazon and a number of other marketplaces, where it not only connects job-seekers and employers, but also then handles all the transactions around the job. When the job is fixed-term, the Mom Project essentially becomes like the job agency paying the employee, and that is how it makes a cut. And it also becomes the provider of benefits and more.

In other words, while there is an immediate opportunity for The Mom Project to compete against (or at least win some business from) the likes of LinkedIn to target the specific opportunity of providing jobs for women returning to work, there is a potentially and equally big one in becoming a one-stop employment shop to handle customers’ other needs as employers or workers, providing a range of other services, from payroll through to childcare listings and more.

WhiteFox Defense lands $12 million as the demand for drone defense technologies intensifies

Jonathan Shieber@jshieber

Four months ago, when two commercial DJI-made drones loaded with 1 kilogram each of plastic explosive detonated during a speech from Venezuelan dictator Nicolás Maduro at a military event in Caracas, the world at large was introduced to the newest threat from our automated, dystopian present — cheap weaponized drone technology.

For Luke Fox, the founder and chief executive of WhiteFox Defense Technologies, it was simply the latest in a string of events proving the need for the kinds of services his company is developing. Something he calls “a highway patrol for the sky.”

From drug smuggling to reconnaissance and information gathering to terror attacks, unmanned aerial drones are no longer the provenance of state military and police actors, and are increasingly being used by criminal organizations to open new, aerial fronts in their operations.

“Drones are by far the biggest asymmetric threat that the U.S. faces,” says Fox. “Countries that don’t have a state-sponsored drone program are using them [and] it’s where you see people like ISIS are going.”

In the battle for Mosul in Iraq, ISIS flew more than 300 drone missions in one month, according to a talk given last year at CyCon by Peter Singer, a senior fellow and strategist at the New America Foundation. One-third of those were strike missions, representing the first time U.S. military faced an aerial attack since the Korean War.

The 24-year-old Fox began thinking seriously about the weaponization of commercial and consumer drone technology six years ago, when he founded WhiteFox Defense.

Creating the company was an extension of the way that Fox had been taught to think about the world as a child, he’s said. Fox grew up in an abusive foster home, raised by a mentally ill foster mother (who was, herself, a child protective service employee) who had adopted him and a number of mentally and physically challenged children.

“The reality I grew up in had my mind constantly looking for vulnerabilities. And instead of seeing these vulnerabilities as opportunities for crime I now had a whole color palette to choose from,” said Fox. “For example, when the world started going crazy over drones as recreational toys I saw that they could be used as weapons or for crime, and this insight into the criminal mind inspired a company that defends the country from drones.”

Fox was adopted from foster care by the librarian of his local Sacramento-area high school, tested out of college and went on to a community college before enrolling in California Polytechnic University in San Luis Obispo.

He began working with drones while in school and credits that introduction to the technology as the inspiration for starting WhiteFox.

“We previously started out in drone manufacturing, starting out in high-performance drones for specialty clients and research organizations. We needed affordable drones that were highly capable,” said Fox. “Making a highly capable drone that was very affordable attracted some very shady people. And, realizing that there was only so much we could control, it brought us to ask what is out there? At the time, the only thing to counter drone-related attacks was large missiles shooting down large Iranian drones.”

WhiteFox currently has three products either in development or on the market. Two have already been released to a select group of customers in different industries and the entire suite will be launched at the beginning of next year, according to Fox.

Without going into specific details of how the technology works, Fox said that WhiteFox Defense systems can detect, identify and mitigate unauthorized drones flying in a particular airspace.

“It’s not jamming or blocking drones or catching them out of the sky,” says Fox. Rather the idea is to provide situational awareness and identify the type of threat that an errant drone represents — whether the operator is, in Fox’s words, “clueless, careless or criminal.”

What Fox would say is that his company has developed a technology that’s based on identifying and differentiating between drones based on their unique radio frequency signatures. That product for identifying drones operating in a space is complemented by a second technology offering that allows WhiteFox to take control of the unauthorized drones in an airspace.

“One of the technologies that was started at Drones For Change [the company that would become WhiteFox] was a universal controller,” said Fox. “That technology really formed the basis. We asked what if this universal controller could become a master controller to take over any drone that was in your airspace? That solved the problem that got us out of drone manufacturing.”

WhiteFox isn’t alone in its attempts to create anti-drone technology. According to some industry statistics there are at least 70 companies working on drone defense technologies, with solutions ranging from deploying other drones to capture unauthorized UAVs to jamming technologies that will block a drone’s signal.

Earlier this year, Airspace Systems raised $20 million for its kinetic (drone versus drone) approach to drone defense, while Citadel Defense raised $12 million and Dedrone pulled in $15 million for their drone-jamming technologies.  And last year, SkySafe raised $11.5 million for a radio-jamming approach similar to WhiteFox, which forces unauthorized drones out of restricted airspace while permitting authorized drones to still fly.

“As​ ​the​ ​adoption​ ​of​ ​consumer​ ​drones increases,​ ​we​ ​believe​ ​it​ ​is​ ​vital​ ​for​ ​an​ ​ambitious​ ​and​ ​effective​ ​defense​ ​platform​ ​to​ ​emerge,” said Alex Rubacalva, a partner at Stage Venture Partners and an early investor in WhiteFox Defense. 

In all, drone-related startups have raised nearly $2 billion in the last eight years, according to data from Crunchbase, pulled at the beginning of 2018. Roughly $600 million of that investment total has come in 2017 and the early part of 2018 alone, the Crunchbase data indicated.

Technologies like SkySafe and WhiteFox are about more than just defending airspace from malicious actors.

“Counter-drone technology is not just about securing spaces from drones and preventing bad things from happening,” says Fox. “It’s about enabling drones to be used in the right way.”

The applications extend far beyond military uses. In fact, Fox’s technology is already being adopted by prisons around the U.S. and, indeed, anywhere airspace usage can be considered sensitive.

“Someone described as the largest delivery operations in the world is happening at prisons,” said Fox. “You have a lot of money behind buying a DJI at Best Buy and loading it up with heroin, with drugs, with weapons, with even Chinese food that was smuggled in. We found that there were drones smuggling in contraband every single day.”

WhiteFox recently conducted a survey with an undisclosed large public prison system in the United States to study just how pervasive a problem drone-smuggling was among its prison population. What the prison saw as one drone a week flying into restricted airspace became a realization that multiple drone flights per day were occurring in attempts to smuggle contraband onto prison grounds.

Operations extend far beyond police and military applications though, according to Fox.

During the California wildfires, rescue operations were halted thanks to unauthorized usage of drones by civilian operators who wanted to capture footage of the disaster. Their actions potentially risked the lives of not only rescue workers but of the citizens they were trying to save and the fire crews attempting to control the worst wildfire in the state’s history.

“This is one of the fascinating things about this industry as a whole,” says Fox. “It’s not that drones are bad and scary and we need to do something about them. If we’re going to embrace this technology as a society we need to be able to safely integrate it into society.”

From its initial deployments, WhiteFox was able to convince investors to funnel $12 million into the company to finance its expansion plans.

The extension of the company’s seed round included investors like JAM Capital, Stage Venture Partners, Okapi Venture Capital, Serra Ventures and OCA Ventures. 

“WhiteFox’s customers are armed with a highly robust and scalable-for-deployment technology​ ​platform​ ​that​ ​addresses​ ​the​ ​increased​ ​threat​ ​of​ ​hostile​ ​drones​ ​and enables​ ​greater​ ​control​ ​of​ ​their​ ​airspace,” said Jeff Bocan, a partner at OKapi Venture Capital, in a statement.​ “Crucially, WhiteFox’s technology also offers customers the ability to protect against reckless drone use, while enabling “friendly” drones to fly freely — all without any human intervention.”

Luke Fox featured in Forbes 30 Under 30: Manufacturing & Industry 2019

Luke Fox

Founder, WhiteFox
Luke Fox created WhiteFox Defense Technologies, which detects and intercepts hostile drones to protect people and property. Fox, who grew up in foster care, is also a children’s rights advocate.
STATS
AGE 23
RESIDENCE San Luis Obispo, California
EDUCATION Drop Out, California Polytechnic State University

WhiteFox Impresses U.S. DoD At World’s Largest Counter-drone Testing Event

WhiteFox Defense Technologies, Inc., a drone airspace defense and security company, had their flagship product, DroneFox, participate as selected equipment by the U.S. Government for the prestigious Black Dart counter-UAS and Red Teaming exercise last month. It was the first time WhiteFox had performed testing at Black Dart, the largest counter-drone testing exercise in the world. After only a brief training, military personnel were able to operate DroneFox to effortlessly detect, identify and mitigate drone threats that were sent by a contracted Red Team. WhiteFox participated alongside several Department of Defense organizations and civilian companies after passing the rigorous nine-month down-selection process. As UAS pose a unique and complex threat that requires multiple layers of defense to comprehensively protect, public and private entities were encouraged to work together.

Representatives of the U.S. Government saw how WhiteFox engaged with the entities and helped evolve security modeling along with techniques, tactics and procedures. Through the DroneFox user interface, operators were able to perform threat assessments of individual unknown or hostile drones and “whitelist” their own “friendly” drones. The military personnel operating DroneFox then relayed this information to remote personnel performing various ground operations at the exercise.

The Department of Defense has hosted the invitation-only exercise since 2004 to test the capabilities of Department of Defense and civilian companies as unmanned aircraft systems (UAS) have become easier to own and use. More than 70 countries now use UAS for government or military applications, according to the Joint Integrated Air and Missile Defense Organization.

FBI director Christopher Wray recently told a U.S. Senate panel that the threat from commercial drones “is steadily escalating” even as Congress gives agencies new tools to address these threats. The comments came just days after President Trump signed into law legislation that gives the Department of Homeland Security and the Department of Justice new powers to detect and mitigate drones that pose a threat to government and other sensitive assets.[2]

Luke Fox, CEO of WhiteFox Defense Technologies, said“Drones are becoming an integral part of military forces worldwide. They are being used for research and development, in combat missions, as target decoys and reconnaissance. They are also playing a key role in security, search and rescue missions, communications and munitions.

“The demonstrations at Black Dark showed how our technology can support the military in field operations, protect their sensitive assets, and become a pillar of defense against drone threats, enabling soldiers to focus on their missions.”

About WhiteFox Defense Technologies 
WhiteFox Defense Technologies, Inc. is a drone airspace security company headquartered in California. WhiteFox builds proprietary software and hardware that enables users and institutions to secure their airspace from drone threats. Pioneering the safe integration of drones into society, WhiteFox develops products that save lives, protect property, and safeguard privacy. WhiteFox’s mission is to keep the sky open for responsible pilots, advancing drone technology for the benefit of society. In a constantly changing industry, WhiteFox is pushing the boundaries of what security means. 

To learn more about WhiteFox or schedule a demo, email info@whitefoxdefense.com or visit www.whitefoxdefense.com.

About DroneFox

DroneFox is a SWaP-C optimized, portable solution which uses a novel method for tracking and taking temporary control of drones: a “master signal” which allows its operator to choose from a dynamic set of responses including land, return to launch, confiscate, and reroute.

Unlike jammers and other non-kinetic products, the DroneFox can select the exact signal it wants to manipulate, without interfering with any others signals—even other drones.

The core WhiteFox technology offers critical infrastructure and personnel the ability to protect against reckless drone use, while enabling “friendly” drones to fly freely and continue the work they’re doing to positively impact society.

About Black Dart 2018

Black Dart 2018 is an annual Department of Defense field demonstration of current and emergent counter-UAS technologies. The event is coordinated and overseen by the Joint Staff J8; Joint Integrated Air and Missile Defense Organization. The training event brings industry personnel, observers from allied nations and military participants from across the Department of Defense.

Progentec Gains Additional Funding for Lupus Detection and Management Platforms

Completion of a second round of funding could help bring closer to market Progentec Diagnostics‘ new tool for predicting lupus flares and a biomarker-based index that monitors underlying disease activity.

Funding for Progentec’s biomarker-based diagnostic testing was led by venture capital outfits i2E and OCA Ventures, with participation by global healthcare provider NMC Lifesciences. Using technology created by the Oklahoma Medical Research Foundation, the platform is touted as being able to detect impending flares and track underlying disease movement.

“Today’s funding round is the next step on our journey to making this and other advanced tools commercially available to patients with lupus, a disease that afflicts more than one million Americans, many of whom are women,” Mohan Purushothaman, PhD, Progentec’s CEO, said in a press release. “The Progentec tests will become powerful tools to help patients and healthcare providers stay ahead of lupus.”

NMC Lifesciences brings an integrated multivertical and multibrand private healthcare network that includes 2,000 physicians and 8.5 million patients globally.

“NMC is looking forward to a strong symbiotic partnership with Progentec, delivering value all across the healthcare delivery ecosystem,” said Prasanth Manghat, CEO and executive director of NMC Health, parent company of NMC Lifesciences.

Oklahoma-based Progentec has also acquired LupusCorner, a patient-centered platform for individuals with lupus nephritis and systemic lupus erythematosus. The company hopes to use the LupusCorner infrastructure to create an innovative and comprehensive lupus management platform.

According to Puroshothaman, the addition of LupusCorner and its users will ensure patient participation in the process of creating this platform. LupusCorner uses an array of smartphone-geared tools to help track patient-generated data and health literacy.

“We look forward to advancing the platform and fulfilling the unmet need for lupus diagnostics and management tools,” he said.

Launched two years ago, LupusCorner was designed to help patients better understand their health and medications by providing clear and accurate information via an online platform shared monthly by roughly 45,000 people living with lupus, a disease that causes the immune system to attack the body’s own tissues.

LupusCorner founders Arif Sorathia and Brett Adelman will join Progentec and help direct its efforts.

“Our goal is to empower our users to be active participants in their healthcare and we are excited to be part of Progentec,” Adelman said. “This is a giant step towards uniting patient-generated data with clinical measures to improve patient outcomes.”

Progentec’s mission is to create and commercialize state-of-the-art diagnostic interventions in therapeutic areas with high levels of unmet need. The company used $1.25 million in earlier financing from OCA Ventures, i2E, and Mayo Clinic Ventures to improve algorithms behind the lupus tools.

Progentec Diagnostics, Inc. Raises Funds to Support Advances in Lupus Detection and Management

— New funding brings lupus-detection tools closer to commercialization

— Acquisition of LupusCorner marks a step forward in developing a first-in-class lupus-management platform

OKLAHOMA CITY, Oct. 31, 2018 (GLOBE NEWSWIRE) — Progentec Diagnostics, Inc. (“Progentec”), a leader in the development of technological innovations in the field of diagnostics, today announced the completion of a second round of funding led by i2E, along with Chicago-based OCA Ventures and NMC Lifesciences, a leading global healthcare provider. The funding will help bring Progentec’s tool for identifying Lupus flare ups and a biomarker-based disease-activity index closer to commercialization. Technology created by the Oklahoma Medical Research Foundation (OMRF) is at the core of the platform being developed by Progentec.

Progentec today also announced the acquisition of LupusCorner, a leading patient-empowerment platform for people with systemic lupus erythematosus (SLE) and lupus nephritis. By integrating LupusCorner’s technology platform and data insights, Progentec is positioned to develop a first-in-class lupus-management platform. The founders of LupusCorner, Arif Sorathia and Brett Adelman, have joined Progentec and will help lead technology, outreach and growth initiatives.

Progentec’s technologies include highly accurate bio-marker based tests to diagnose disease before symptoms begin to show, as well as tests to monitor and predict disease activity levels in Lupus.

“We’ve made tremendous progress in developing a tool for the identification of lupus flare-ups before they occur,” said Mohan Purushothaman, CEO of Progentec. “Today’s funding round is the next step on our journey to making this and other advanced tools commercially available to patients with lupus, a disease that afflicts more than one million Americans, many of whom are women. The Progentec tests will become powerful tools to help patients and healthcare providers stay ahead of lupus.”

“NMC Lifesciences is excited to partner with Progentec,” said Prasanth Manghat, CEO and Executive Director NMC Health Plc. “As a leading global healthcare provider that has put key components in place to build a strong, inter-dependent, integrated, multi-vertical and multi-brand private healthcare network of a team of over 2,000 doctors serving 8.5 million patients in over 17 countries, NMC is looking forward to a strong symbiotic partnership with Progentec delivering value all across the healthcare delivery ecosystem.”

LupusCorner was founded in 2016 with the mission of transforming the lupus patient experience by creating easy-to-use and powerful technologies. Today, nearly 45,000 people with lupus interact with the LupusCorner platform each month.

“LupusCorner is a powerful platform that connects people battling lupus in an online patient community to share information and better manage the disease,” said Brett Adelman, a LupusCorner founder. “Our goal is to empower our users to be active participants in their healthcare and we are excited to be part of Progentec. This is a giant step towards uniting patient-generated data with clinical measures to improve patient outcomes.”

“The addition of LupusCorner and its users furthers our vision of creating a comprehensive disease-management platform and ensures that the patient voice will be a valued part of our process,” said Mohan Purushothaman, CEO of Progentec. “We look forward to advancing the platform and fulfilling the unmet need for lupus diagnostics and management tools.”

The Lupus Foundation of America estimates that there are as many as 1.5 million lupus (systemic lupus erythematosus or SLE) patients in the U.S. alone. Seen mostly in women between the ages of 15 and 44, lupus causes the immune system to recognize and attack the body’s own tissues. Lupus sufferers have periods of flares and remission with organs typically affected including the skin, kidneys, lungs and reproductive organs, as well as the cardiovascular system.

About Progentec Diagnostics, Inc.Progentec Diagnostics, Inc. (“Progentec”) is committed to exploring and commercializing state of the art diagnostic interventions along with digital and social infrastructure to improve access and outcomes for patients in therapeutic areas with a high level of unmet need. By collaborating with research institutions and individuals around the world, Progentec works towards bringing the latest technological innovations to the field of diagnostics. Progentec’s work is rooted in the belief that better diagnostics would not only help in ensuring cost-effective management of diseases, but also help tremendously in reducing the mortality and morbidity associated with these diseases.

About LupusCorner LupusCorner is a health management platform for people living with lupus systemic erythematosus and lupus nephritis. With an assortment of smartphone-optimized tools, LupusCorner supports the tracking of patient-generated data, health literacy, and community.

Pitch Perfect Winner Spotlight: The startup tackling cardiac rehab with technology

Moving Analytics is a startup trying to address socio-economic factors that make it difficult to complete rehab in a traditional brick-and-mortar facility through a tech-enabled home rehab system.

Every year, millions of people suffer from a cardiac health event, and even though rehabilitation programs have been shown to double a patient’s chances of living another five years, they suffer from high attrition and low participation rates.

Moving Analytics is a startup trying to address socio-economic factors that make it difficult to complete rehab in a traditional brick-and-mortar facility through a tech-enabled home rehab system.

“The sorry fact is that only 15 percent of patients today participate in rehab because to do so they would have to visit a hospital 36 times,” Moving Analytics CEO  Harsh Vathsangam said.

“There are two implications for this, one is that even with reimbursements hospitals lose money on rehab and these patients are those that represent the highest rates of readmission.”

The company has developed Movn, a digital cardiac rehab and secondary prevention program that they claim is able to triple participation rates at one-fifth the cost of the the existing standard of care.

The Los Angeles, California-based company won the MedCity INVEST Twin Cities Pitch Perfect competition earlier this month and in a phone interview Vathsangam expanded on the origins of the company and where it hopes to go in the future.

The startup’s technology has its roots in research conducted at the Stanford University School of Medicine that developed a series of treatment plans and algorithms laying how best to manage patients at home with different cardiac symptoms.

Where Moving Analytics comes in is by updating that largely paper-based system with modern and adaptive technology including a mobile application, blood pressure cuff and a wireless scale.

“What we’ve done since is create a 2.0 version, with a tech platform meant to make delivery of the program seamless,” Vathsangam said.

That digital health program includes five major segments: exercise, diet adjustment, medication adherence and customization, stress management an smoking cessation.

“The trick is that for each patient it’s not a standard menu, it changes based on how they feel and how well they stick to their care plan,”  Vathsangam said.

For now the company is focused on working with risk-bearing health systems and hospitals looking to lower costs and transition to value based care contracts.

Still, as a small 8-person startup in healthcare, the company has to deal with extended sales cycles that can be difficult to work around. However, Vathsangam said adoption is growing and he hopes to be in 20 hospitals by the end of the year.

Part of the reason the company decided to participate in Pitch Perfect was to create a level of validation with top notch investors that can used to create buzz and momentum ahead of a planned Series A fundraise next year.

“We want to get at least 1 million patients in the U.S. every year through rehab and every decision we make is guided by that North Star metric,” Vathsangam said. “Cardiac rehab is like a lifesaving drug that’s not being used because of issues like costs and distance.”