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.”

Balto Software raises $1.2 million and is ‘aggressively hiring’

Balto Software of St. Louis, which uses artificial intelligence to make call-center representatives more effective, announced Thursday that it has raised $1.2 million in capital.

Chris Kontes, president and founder, said that with the money in hand, Balto is “aggressively hiring” for sales and engineering positions. The firm currently employs 13 people.

The investment round was led by Stage Venture Partners of Los Angeles and includes money from seven early-stage funds and two individuals.

The other funds are TIA Ventures and Venture for America Seed Fund, both based in New York, SaaS Ventures of Bethesda, Md., and three Chicago funds: Harbor Street Ventures, Sandalphon Capital and OCA Ventures.  The individual investors are William Murphy, chief technology officer at New York-based Blackstone Group, and San Francisco entrepreneur Miles Laster.

Balto was founded in 2017 by entrepreneurs with experience at TopOpps, another St. Louis software firm. Balto’s artificial intelligence software analyzes sales representatives’ conversations in real time to help them avoid mistakes and close more sales.

Zendesk expands into CRM with Base acquisition

Zendesk has mostly confined itself to customer service scenarios, but it seems that’s not enough anymore. If you want to truly know the customer behind the interaction, you need a customer system of record to go with the customer service component. To fill that need, Zendesk  announced it was acquiring Base, a startup that has raised over $50 million.

The companies did not share the purchase price, but Zendesk did report that the acquisition should not have a significant impact on revenue.

While Base  might not be as well known as Salesforce, Microsoft or Oracle in the CRM game, it has created a sophisticated sales force automation platform, complete with its own artificial intelligence underpinnings. CEO Uzi Shmilovici claimed his company’s AI could compete with its more well-heeled competitors when it was released in 2016 to provide salespeople with meaningful prescriptive advice on how to be more successful.

Zendesk CEO Mikkel Svane  certainly sees the value of adding a company like Base to his platform. “We want to do for sales what Zendesk has already done for customer service: give salespeople tools built around them and the customers they serve,” he said in a statement.

If the core of customer data includes customer service, CRM and marketing, Base gives Zendesk one more of those missing components, says Brent Leary, owner at CRM Essentials, a firm that keeps close watch on this market.

“Zendesk has a great position in customer service, but now to strengthen their position with midmarket/enterprise customers looking for integrated platforms, Base adds a strong mobile sales force automation piece to their puzzle,” Leary told TechCrunch.

As he points out, we have seen HubSpot make a similar move with HubSpot Apps, while SugarCRM, which was recently sold to Accel-KKR, could be shopping too, with its new owner’s deeper pockets. “This is almost like a CRM enterprise software Hunger Games going on,” he joked. But he indicates that we should be expecting more consolidation here as these companies try to acquire missing pieces of their platforms to offer more complete solutions.

Matt Price, who previously had the title of senior vice president for product portfolio at Zendesk will lead the Base team moving forward.

Base was founded in 2009 and boasts more than 5,000 customers. It’s worth pointing out that Base was already available for sale in the company app marketplace, so there was some overlap here, but the company intends to try to move existing customers to Base, of course.

Zendesk has indicated it will continue to support all Base customers. In addition, Base’s 125 employees have been invited to join Zendesk, so there will be no blood-letting here.

OverWatchID Closes $2.5M Financing Round Led By WestWave Capital and Silicon Valley Data Capital

Cybersecurity Firm Extends Seed Round Following Strong VC Interest

Denver, Sept. 10, 2018 (GLOBE NEWSWIRE) — OverWatchID, a Denver-based market leader in cloud-based converged identity security solutions, today announced it has closed its seed funding round at $2.5 million, raising $4.5 million to date. The funding round was led by WestWave Capital and Silicon Valley Data Capital and included IrishAngels Ventures, OCA Ventures, Rockies Venture Club and Copper River Advisors.

“Each day, stolen credentials and privilege abuse account for millions of dollars in losses for our businesses, and the market for cloud-based converged identity security solutions has grown exponentially in the last year,” said Andy Funk, co-founder and CEO of OverWatchID. “This new investment, coupled with having WestWave Capital and Silicon Valley Data Capital as partners, allows OverWatchID to accelerate our growth and invest in continuing R&D so we can help our clients stay one step ahead of attackers.”

Since its founding in 2016, OverWatchID’s patent-pending platform has provided converged identity security solutions to Frontier Airlines, the eighth-largest carrier fleet in the country, managed service providers like Datavail and Unitas Global and many other enterprise clients. OverWatchID’s rapid, frictionless deployment has reduced subscription, implementation and administration costs by up to 80 percent when compared to legacy vendors. The company previously announced its seed round had closed in May 2018 and reopened the round following exceptionally strong interest from WestWave Capital and Silicon Valley Data Capital.

“OverWatchID is ready to disrupt the $27 billion identity security market through their holistic identity security platform specifically built for today’s cloud environments,” said Warren Weiss, managing general partner, WestWave Capital. “Amidst a crowded field of legacy stand-alone vendors focused solely on very large enterprise companies, OverWatchID has emerged as the clear leader in the identity security market. We look forward to working with the OverWatchID team as they make identity security available for companies of all sizes.”

“The identity security market is projected to be more than $35 billion by 2020, and OverWatchID’s identity security platform is well positioned to play a big role,” said Jim McLean, founder of Silicon Valley Data Capital. “We are very excited to help lead this funding round and are excited to participate in OverWatchID’s next growth phase.”

About OverWatchID:  
OverWatchID is “Identity Security ReinventedTM.” OverWatchID leverages more than 20 years of enterprise development experience in identity security and delivers a feature-rich platform that comprises privileged access management (PAM), single sign-on (SSO), multifactor authentication (MFA) and cloud access security brokering (CASB). OverWatchID’s patent-pending technology provides an assurance of security efficacy far beyond legacy PAM systems, and its rapid, frictionless deployment reduces subscription, implementation and administration costs by up to 80 percent. OverWatchID is headquartered in Denver, Colorado.

 

Solovis Recognized As 2018 Top Startup

DALLAS, TEXAS – September 6, 2018 – Solovis, a multi-asset class portfolio management, analytics and reporting platform for limited partners, asset owners and allocators, today announced it has been named a Top Startup by LinkedIn.

LinkedIn Top Startups ranks the most sought-after startups where professionals want to work and stay. The Top Startups methodology is fueled by a combination of LinkedIn data with an editorial lens. Rather than relying on questionnaires, it measures the behavior of over a half billion of professionals on LinkedIn focused on four core areas: employment growth, engagement, job interest, and attraction of top talent. The timeline measured was July 2017 through June 2018.

“We are excited to be recognized by LinkedIn as a 2018 Top Startup,” said Josh Smith, co-founder and CEO of Solovis. “As a company, we are committed to driving technology innovation, delivering transformational value to our clients in the institutional investing industry, and creating a challenging, fun work environment that inspires employees and attracts the top talent in our industry. It’s an exciting time to be part of Solovis.”

Levyx Debuts Radon™, the Industry’s First Low-Latency Key-Value Solution Designed Specifically for +1000 Node Exascale Opportunities

IRVINE, Calif., July 16, 2018 (GLOBE NEWSWIRE) — Levyx Inc., a provider of system software for low latency big data platforms and applications to dramatically reduce Big Data infrastructure costs, announced today the availability of its newest product Radon™ for early beta customers. Radon is a large-scale distributed key-value store intended for low latency operations and optimized for Flash and non-volatile memories (NVMs), requiring much less DRAM and fewer nodes than in-memory solutions that have proven difficult to scale. It is engineered for Exascale use cases requiring +1000 node clusters such as financial services, Internet of Things (IoT) including Connected Car initiatives, telecommunications, cybersecurity and data center management — all of which involve storing, analyzing, and retrieving billions to trillions of objects with very low latency.

Bill Moore, Dell/EMC Fellow, co-creator of ZFS and founder/CEO of DSSD said: “The rise of massively scaled applications that process billions of objects related to sensor data, connected cars, threat detection, and dynamic pricing has created a fundamental need for a software stack that provides scalable and low-latency building blocks for these applications, while at the same time using commodity off-the-shelf hardware and storage. Levyx has done a great job to bridge this gap, thereby making these applications not only possible, but economically feasible as well.”

John Overton, CEO of Kove IO, Inc., a leading Software Defined Memory vendor said: “Mission-critical commercial and public-sector customers require Quality-of-Service that are best-of-breed today for both cost and performance. Radon brings enterprise-class feature sets to large-scale distributed real-time analytics, without concerns for scale. It’s important to us that Levyx’s technologies have been proven in some very demanding use cases.”

Pete Goddard, CEO of Deephaven Data Labs, a FinTech research-platform-as-a-service company, said: “Radon is a state-of-the-art key-value solution that’s engineered for environments like ours in the Derivatives industry. It’s ability to help us store, track and process time-sensitive data across global networks can prove to be game-changing for the major players in our industry.”

Tim Marsh, CEO of Serisys, a global FinTech solutions provider, said: “As a provider of core applications to some of the world’s leading financial institutions, we at Serisys see excellent opportunities to apply Levyx’s distributed key-value solution on a grand scale. One such opportunity that we are targeting together is bringing major efficiencies to Java-based Enterprise applications through a very low latency persisted distributed object cache.”

Radon leaps ahead of existing distributed key-value systems by breaking the +1000 node barrier and Exabyte data capacity limit while providing sustained performance. To achieve this, every core subsystem of Radon (e.g., distributed consensus algorithm, synchronization mechanisms, cluster-wide locking primitives, remote-procedure-call pipelines, consistent hashing scheme, etc.) had to be reenvisioned. A key innovation in architecting Radon was to distribute objects uniformly across a very large cluster, enabling high performance point operations, while also devising mechanisms to perform efficient range-query and ordered traversal of data. Radon’s performance profile is high enough to address the needs of applications demanding in-memory data access speeds at Flash/NVM memory persistency and operating costs.

In recent testing, four billion 500-byte objects were processed by Radon on a 12-node cluster consisting of AWS instances using Flash SSDs. For processing workloads similar to a heavy transactional object storage use case, Radon was able to process nearly 2 million inserts/sec and approximately 5 million lookups/sec, both with latencies of less than 400 microseconds and 5 million ordered iterates/sec with latencies of less than 40 microseconds. Performance thresholds improved an average of 6X when expanding from three nodes to twelve distributed nodes, demonstrating Radon’s extreme scalability and potential for high nodal density in processing massively distributed workloads, whereby performance improves (better than) linearly as nodes are added while keeping latency in check.

Reza Sadri, CEO of Levyx, said: “Radon is the next evolution of our product capabilities. It combines our ultra-fast Helium key-value store and our Xenon analytics platform in a distributed object store solution with enterprise reliability. Whereas our previous products were enabling technologies, Radon is a point solution that can be applied to solve major problems in the world’s most demanding datacenters – unifying a wide spectrum of workloads, including transactions and analytics, in a distributed cluster at Exabyte scale and on persisted media, bringing enterprise characteristics to very large live datasets. This solution will be an excellent software complement to our partners’ current and next-generation NVMe drives, storage-class Memory (SCM), and all-flash arrays.”

Built on top of Levyx’s Helium™, one of the world’s fastest embedded key/value store solutions, Radon is highly optimized for ultra-low latency inserts, lookup and iterate operations, non-volatile memory (NVM) storage fabrics such as NVMe Flash and SCM and serves as a data-centric compute offload. Unlike Helium and other single node KVS object stores, Radon offers an extensive set of enterprise features including replication, elasticity, consistency, and support for transactions. In addition, Radon uses Levyx’s Xenon™, a distributed analytics platform, to offload compute and analytics and imposes a schema on key/value pairs to apply just-in-time compilation to run analytics on bare-metal. Finally, Radon is written entirely in C and is backed by 16 patents and patent applications.

About Levyx Inc.
Levyx’s software solutions fundamentally disrupt the economics of Big-Data applications, bringing the benefits of high-speed Big-Data processing to the masses. No longer reserved for the largest enterprises, Levyx technology can process hundreds of millions of queries per second on commodity servers on a few nodes, making Big-Data processing much more accessible to organizations of all sizes. More information is available at www.levyx.com.

Levyx, the Levyx logo, Helium, Radon, and Xenon are trademarks of Levyx Inc. All other trademarks or brand names referred to in this press release are the property of their respective owners.

Levyx Press Contact:
Luis Morales
(949) 466-2738
morales@levyx.com

An Indeed.com for mothers who want to re-enter the workforce

On maternity leave from Procter & Gamble in 2015, Allison Robinson came across the statistic that 40 percent of professional women leave the workforce once they’re moms. By choice or circumstance? Was there a business matching women who wanted to work again with companies in need of their skills?

Six months later, the Mom Project was up and running, and now links 35,000 women (and a few men) with Fortune 500 companies, including MillerCoors, Jones Lang LaSalle, P&G, and smaller ones. “To leave P&G, I knew it had to be something big, a social mission,” says CEO Robinson, 31, who designed the online platform to make it easier for women to re-enter the workforce, a “bridge back.” That can mean a gig-economy, four-month project, a “maternityship” or a full-time job.

There’s more to her business than a site: Robinson pitches to companies the financial benefits of a diverse, inclusive workforce and her ability to help them fill mid-management layers depleted by—you guessed it—moms who left. “I’m selling to HR, I’m selling to moms,” says Robinson, who collects from the companies a 20 percent fee of the salary or short-term contract. She bootstrapped her startup, based in a Fulton Market sublease, and has since raised $2.6 million from venture capitalists.

“She’s super scrappy: In a few months she created a digital marketplace for moms with a lot of flexible jobs and projects from big and small companies,” says investor Eddie Lou, executive chairman and co-founder of Shiftgig.

Shatha al Awad had been a senior credit analyst in Boston when she became a mother; five years later and now in Chicago, Al Awad tried to re-enter the workforce. “Hard, hard, hard,” she recalls. “I’d be in the door, they’d say, ‘You’re highly qualified, but there’s this gap.’ Why would they take a chance on me when I might do that again?”

Through the Mom Project—the ease of use is “idiot-proof,” she says—Al Awad is employed at BP as an origin supply scheduler. “Because I was presented via the Mom Project, it took the awkwardness out of the conversation; they simply wanted to know what I could bring to the table.”

Robinson, now a mother of two, employs 14 and models a “be where you need to be to get work done” flexibility ethos. For her, that means being on an airplane, as she travels the country managing supply and demand, meeting with investors, talking with policymakers.

“A successful weekend for me looks like nothing,” she laughs, though she and husband Gregory, CFO/COO of the Mom Project, enjoy exploring the city’s parks and restaurants with their children. A self-described nerd, Robinson reads only nonfiction and listens exclusively to social science and psychology podcasts. They live in Wicker Park.

She’ll expand the business in Atlanta and San Francisco, because even though the Mom Project is an online marketplace, a physical presence is necessary. “This is a movement,” says Robinson. “Women want these issues solved.”

BP PLC Jones Lang LaSalle Inc. MillerCoors LLC Shiftgig Inc.

Levyx and Serisys Partner to Offer Best-in-Class, Capital Markets Transaction Processing Platform

Levyx Inc. and Serisys Solutions Ltd. announced plans to provide real-time, cost-effective access to the large amount of “static” data required for effective real-time processing of securities transactions through the entire post-trade life cycle. Their joint solution brings together best-of-class technologies from Serisys’ advanced securities processing platform and Levyx’s system software that optimizes the performance of the underlying hardware. More specifically, the solution takes full advantage of the high-performance and low-latency attributes of recent major innovations in storage media, including NVMe SSDs, 3D XPoint from Intel and Micron Technology, and other versions of storage-class memory.

Tim Marsh, CEO of Serisys, said: “At the core of any successful implementation that we do is how seamlessly our platform integrates into our customer’s trading infrastructure. The Levyx team’s domain expertise makes them a great partner and their software stack helps our platform solution achieve peak performance on any hardware in any on-premise or cloud environment. The financial back-office straight through processing (STP) workload is typically heavy for any financial institution’s datacenter. Therefore, partnerships like this one that help lighten the burden for our common customers is a win-win.”

Reza Sadri, CEO of Levyx, said: “There’s tremendous opportunity for solution providers that make transaction-intensive, large-scale back-office operations more efficient in the financial industry. Serisys is an ideal partner for us because their platform solution is designed precisely with that goal in mind and our software is a great fit on the data management side.”

Levyx’s Helium data engine is one of the fastest key-value technologies in production today. It provides a very fast and scalable platform for storing and retrieving data items. It is specifically designed for applications, such as financial STPs that manipulate a large amount of data (billions of data items), while at the same time need to be very responsive; essentially enabling performance characteristics of in-memory data stores in non-volatile memory solutions.

Serisys leverages Levyx’s Helium to implement a cross-transactional cache for large amounts of reference data, making the data available to OLTP processes as if it were memory resident, without the need for a database round-trip. This combination significantly reduces the SQL load on the primary database, enabling the same OLTP load to be supported on a lower specification (typically lower cost) database server.

Consumers today expect their financial institutions to provide them with real-time transaction processing from their smartphones 24×7, across all instruments and markets worldwide, whether traditional or crypto trading venues and OTC markets. The existing disparate, disjointed, overlapping and inflexible systems cannot meet this consumer demand.

Over the last five years, Serisys has built ADYPT, one of the most advanced, cloud-based, post-trade processing systems in the world in order to solve this consumer problem. The ADYPT platform processes all instruments and client information in all markets, 24×7, in real time or at specified settlement times.  Designed to run in any on-premise or cloud environment, ADYPT provides resilience and security, continuous availability across multiple business entities and time zones, linear scalability and complete auditability. ADYPT provides not only real time STP for trades throughout their life cycle of enrichment, validation, agreement, clearing and settlement; but also real time trade break and exception handling workflows with notifications and automatic escalation by elapsed time or deadline.

Levyx’s Helium datastore allows ADYPT to take advantage of the significant cost and performance benefits of modern NVME SSDs as well as upcoming storage class memory technology to create very large persistent caches accessible across the ADYPT platform at the speed of RAM and utilizing a much more cost effective and smaller hardware footprint.

Levyx and Serisys expect to offer their joint solution for early access users this summer and to be generally available in Q4 2018. Please contact info@levyx.com for additional information.

About Serisys Solutions Ltd.
Serisys is a global financial technology provider to the capital markets headquartered in Hong Kong, with offices in Bangkok and London. To learn more, visit us at www.serisys.com.

About Levyx Inc.
Levyx’s software solutions fundamentally disrupt the economics of Big-Data applications, bringing the benefits of high-speed Big-Data processing to all enterprises and commodity hardware. Optimized for all of the latest hardware innovations, Levyx’s products make running large-scale workloads in real-time far more efficient than conventional methods and brings all of the enterprise features required by the most demanding datacenter environments to those interactive data sets. More information is available at www.levyx.com.

Levyx, the Levyx logo, and Helium are trademarks of Levyx Inc.  All other trademarks or brand names referred in this press release are the property of their respective owners.