ABS Capital https://abscapital.com/ Fri, 13 Oct 2023 13:07:48 +0000 en-US hourly 1 https://abscapital.com/wp-content/uploads/2021/12/cropped-logo_57-45x45.png ABS Capital https://abscapital.com/ 32 32 ABS Capital Closes First Continuation Fund https://abscapital.com/abs-capital-closes-first-continuation-fund/ Fri, 13 Oct 2023 13:07:48 +0000 https://abscapital.com/?p=1009101 WASHINGTON–(BUSINESS WIRE)–ABS Capital (“ABS”), a leading growth equity firm with over three decades of experience scaling software and tech-enabled B2B businesses, is pleased to announce the completion of a GP-led secondary transaction centered around two of its portfolio companies, LabConnect, Inc. (“LabConnect”) and Viventium Software (“Viventium”). The transaction supports the significant continued growth opportunity for both companies, providing additional time and capital for growth initiatives, while offering liquidity to existing limited partners. ABS fund investors were provided a choice to receive liquidity or continue their investment. “We are excited to partner with ABS on this GP-led secondary transaction” The transaction is capitalized by a consortium of new and existing ABS investors, who subscribed to a new partnership managed and controlled by ABS. The transaction was led by Kline Hill Partners and Five Arrows. LabConnect is a leading provider of global central laboratory services including routine and esoteric laboratory testing, kit building, sample management and tracking, biostorage, and scientific support services for pharmaceutical and biotechnology companies and clinical research organizations (CRO). Viventium is a leading cloud-based payroll and human capital management solution, providing an exceptional user experience and insightful analytics for the health services markets, primarily home care agencies and skilled

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WASHINGTON–(BUSINESS WIRE)–ABS Capital (“ABS”), a leading growth equity firm with over three decades of experience scaling software and tech-enabled B2B businesses, is pleased to announce the completion of a GP-led secondary transaction centered around two of its portfolio companies, LabConnect, Inc. (“LabConnect”) and Viventium Software (“Viventium”). The transaction supports the significant continued growth opportunity for both companies, providing additional time and capital for growth initiatives, while offering liquidity to existing limited partners. ABS fund investors were provided a choice to receive liquidity or continue their investment.

“We are excited to partner with ABS on this GP-led secondary transaction”

The transaction is capitalized by a consortium of new and existing ABS investors, who subscribed to a new partnership managed and controlled by ABS. The transaction was led by Kline Hill Partners and Five Arrows.

LabConnect is a leading provider of global central laboratory services including routine and esoteric laboratory testing, kit building, sample management and tracking, biostorage, and scientific support services for pharmaceutical and biotechnology companies and clinical research organizations (CRO).

Viventium is a leading cloud-based payroll and human capital management solution, providing an exceptional user experience and insightful analytics for the health services markets, primarily home care agencies and skilled nursing facilities.

“The ABS Capital team is thrilled to partner with Kline Hill Partners and Five Arrows in supporting the continued growth of LabConnect and Viventium,” said ABS Managing Partner, Mike Avon. “We are extremely proud of both companies’ success so far, and of the attractive returns we have generated for our LPs. We believe there is significant future value in these assets.”

“We are pleased to bring this GP-led transaction to fruition, and look forward to our partnership with ABS,” said Raudel Yanez, a Managing Director at Kline Hill Partners. “This transaction reflects not only existing but also new investors’ strong conviction surrounding the continued growth potential of high-quality assets in the Healthcare and SaaS-based Human Capital Management spaces.”

“We are excited to partner with ABS on this GP-led secondary transaction,” said Brian Kolin, a Managing Director at Five Arrows. “The transaction embodies our strategy to support GPs and their portfolio companies in the next stage of value creation while helping to address liquidity, duration, and capital considerations. We were impressed by ABS’s thoughtful investment approach and have a shared belief that the assets are positioned for continued and sustainable growth.”

Harris Williams served as financial advisor, and Gunderson Dettmer served as legal advisor to ABS.

About ABS Capital

ABS Capital provides growth equity capital to B2B software and tech-enabled services businesses with strong technology and data underpinnings looking to scale with the right partners. Building growth-stage businesses has been ABS Capital’s focus for more than 30 years. Over that time, ABS Capital has invested more than $2.5 billion in approximately 130 companies across eight funds. Bringing investing, operational, infrastructure, technology, and business development skills to amplify the success of growing businesses together with data-driven business strategies, market research and analytics, ABS Capital works intensively in close partnership with talented management teams. ABS Capital: building emerging growth businesses into industry leaders. For more information, visit www.abscapital.com

About Kline Hill Partners

Founded in 2015, Kline Hill Partners is an investment firm focused on the private equity secondary market, with industry-leading capabilities in the small-deal space. With over $3 billion in assets under management, Kline Hill’s funds are backed by a blue-chip investor base that includes endowments, foundations, family offices, and other institutional investors. Kline Hill’s Core and Solutions strategies make up a platform designed to serve the entirety of the small-deal secondary market. This includes capabilities spanning LP fund transfers, single and multi-asset GP-led transactions in partnership with leading mid-market sponsors, and secondary direct transactions across private equity, venture capital, growth equity, and other private market strategies. For more information, please visit www.klinehill.com

About Five Arrows

Five Arrows is the alternative assets arm of Rothschild & Co and has €24 billion AuM with offices in Paris, London, New York, Los Angeles, San Francisco and Luxembourg. Rothschild & Co is family-controlled and independent and has been at the centre of the world’s financial markets for over 200 years. With a values-driven culture, the Group brings expertise, intellectual capital and a global network to provide a distinct perspective that makes a meaningful difference to its clients. Five Arrows deploys the firm’s capital, alongside leading institutional and private investors, through a series of funds dedicated to corporate and secondary private equity, multi-managers funds and co-investments, as well as private credit.

Five Arrows Secondary Opportunities (“FASO”) has provided tailor-made liquidity solutions for investors and general partners for two decades. Its proven expertise in complex transactions makes FASO a reliable partner for secondary transactions in Europe and in the US. FASO also shares the guiding principles of Rothschild & Co, a strategic and responsible financial services partner known for its creative thinking and innovative investment solutions combined with a commitment to absolute discretion. For more information, please visit www.rothschildandco.com/en/five-arrows/

About LabConnect

LabConnect improves lives by partnering with pharmaceutical and biotechnology companies, contract research organizations (CROs), and foundations/non-governmental organizations (NGOs), to accelerate the development of new medicines around the world. LabConnect delivers a unique combination of support services through Central Laboratory Services and Functional Service Provider Solutions that are tailor-made, timely and flexible to meet the evolving study demands of traditional to increasingly complex clinical trials. Visit us at LabConnect.com

About Viventium

Viventium Software Inc. is a SaaS-based payroll and human capital management solution that provides an exceptional user experience through flexible, award-winning software, supported by expert guidance. Viventium offers specialized solutions in the health services markets which include home care agencies and skilled nursing facilities. For more information about Viventium, visit www.viventium.com

Contacts

FOR MORE INFORMATION:
ABS Capital
Robyn Lehman
1-410-246-5624
rlehman@abscapital.com

For Kline Hill Partners
Katrin Lieberwirth
Stanton
1-646-502-3548 (office)
1-646-286-5401 (cell)
klieberwirth@stantonprm.com

Five Arrows
Emma Rees
+44 (0)7703 715763
emma.rees@rothschildandco.com

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GuidePoint Security Attracts New Round of Growth Capital https://abscapital.com/guidepoint-security-attracts-new-round-of-growth-capital/ Tue, 10 Oct 2023 13:20:22 +0000 https://abscapital.com/?p=1009099 HERNDON, Va.–(BUSINESS WIRE)–GuidePoint Security, a cybersecurity solutions leader enabling organizations to make smarter decisions and minimize risk, today announced the closing of a funding round led by Audax Private Equity, a leading alternative investment manager and capital partner to middle market companies. GuidePoint will leverage the investment to further accelerate growth across the United States and expand internationally. Terms of the new investment are not disclosed. “GuidePoint has distinguished itself as one of the premier providers of cybersecurity solutions, where local coverage, sophisticated technical skillsets, and industry expertise are crucial to address, mitigate and stay ahead of cyber risks” “As the complexity of the cybersecurity landscape becomes more pronounced — with ever evolving threats, thousands of products, and continued resource challenges — demand for our services and solutions has never been higher,” said Michael Volk, Chairman and CEO of GuidePoint Security. “We attribute this consistent and continued rapid growth to our steadfast commitment to partnering with our customers to solve their cybersecurity challenges. We’ve focused on hiring the best and brightest cybersecurity minds across the United States and investing in innovative service offerings to address new and emerging risks. Now with Audax Private Equity, we are set up to help

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HERNDON, Va.–(BUSINESS WIRE)–GuidePoint Security, a cybersecurity solutions leader enabling organizations to make smarter decisions and minimize risk, today announced the closing of a funding round led by Audax Private Equity, a leading alternative investment manager and capital partner to middle market companies. GuidePoint will leverage the investment to further accelerate growth across the United States and expand internationally. Terms of the new investment are not disclosed.

“GuidePoint has distinguished itself as one of the premier providers of cybersecurity solutions, where local coverage, sophisticated technical skillsets, and industry expertise are crucial to address, mitigate and stay ahead of cyber risks”

“As the complexity of the cybersecurity landscape becomes more pronounced — with ever evolving threats, thousands of products, and continued resource challenges — demand for our services and solutions has never been higher,” said Michael Volk, Chairman and CEO of GuidePoint Security. “We attribute this consistent and continued rapid growth to our steadfast commitment to partnering with our customers to solve their cybersecurity challenges. We’ve focused on hiring the best and brightest cybersecurity minds across the United States and investing in innovative service offerings to address new and emerging risks. Now with Audax Private Equity, we are set up to help even more customers across the U.S. and expand overseas.”

Founded in 2011, GuidePoint Security has become the trusted cybersecurity advisor to more than 3,800 organizations across the U.S., including one-third of the Fortune 50 and 40% of the Fortune 500, along with more than half of the U.S. government cabinet-level agencies. The company’s unique business model provides local engagement and delivery teams, national scale and purchasing power for industry-leading cybersecurity solutions, breadth and depth of cybersecurity expertise across all disciplines, and engagements that are tailored to each customer’s specific environment and needs.

“GuidePoint has distinguished itself as one of the premier providers of cybersecurity solutions, where local coverage, sophisticated technical skillsets, and industry expertise are crucial to address, mitigate and stay ahead of cyber risks,” noted Iveshu Bhatia, a Managing Director at Audax Private Equity. “Our investment experience in this area should prove beneficial as we work closely with the GuidePoint team to drive growth.”

“GuidePoint Security’s value proposition revolves around the team’s sophisticated technical skillset coupled with deep industry expertise,” added Tim Mack, Partner of Audax Private Equity. “We see a tremendous opportunity to invest in the company’s continued expansion and build upon its track record of growth over the last 12 years.”

Guggenheim Securities, LLC served as the exclusive financial advisor, while DLA Piper provided legal counsel. Kirkland & Ellis served in the same capacity to Audax Private Equity. ABS Capital Partners, a prior investor in GuidePoint Security, participated in the transaction.

About GuidePoint Security

GuidePoint Security provides trusted cybersecurity expertise, solutions and services that help organizations make better decisions that minimize risk. Our experts act as your trusted advisor to understand your business and challenges, helping you through an evaluation of your cybersecurity posture and ecosystem to expose risks, optimize resources and implement best-fit solutions. GuidePoint’s unmatched expertise has enabled a third of Fortune 500 companies and more than half of the U.S. government cabinet-level agencies to improve their security posture and reduce risk. Learn more at www.guidepointsecurity.com.

About Audax Private Equity:

Based in Boston and San Francisco, Audax Private Equity is a leading middle market investment firm with approximately $18 billion of assets under management, over 210 employees, and 100-plus investment professionals. Since its founding in 1999, the firm has invested in more than 165 platforms and 1,200 add-on acquisitions. Through our disciplined Buy & Build approach, across six core industry verticals, Audax helps portfolio companies execute organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value. For more information, visit audaxprivateequity.com or follow Audax Private Equity on LinkedIn.

Contacts

Zachary Tramonti / Catherine Livingston
FGS Global
Audax@fgsglobal.com

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M2M Services and Alula Join Forces to Redefine the Future of Smart Security Solutions https://abscapital.com/m2m-services-and-alula-join-forces-to-redefine-the-future-of-smart-security-solutions/ Mon, 02 Oct 2023 14:09:47 +0000 https://abscapital.com/?p=1009090 BOCA RATON, Fla / ST. PAUL, Minn. – (October 2, 2023) – We are pleased to announce the merger of M2M Services, an award-winning provider of universal alarm panel communicators, connectivity, and interactive services, with Alula, a leader in the smart security and Internet of Things (IoT) industries. Operating under the name M2M Services, the combined entity will leverage the strengths of both companies. The merger marks a significant achievement in the industry, creating a company with unrivaled products and services that cater to the ever-evolving demands of the smart security market and the professionals who serve it. The combined companies will be led by Peter Tzvetkov, CEO of M2M Services. Dave Mayne, President of Alula, will lead North America operations and oversee global sales and marketing. Gregg Waldon, CFO of Alula, will manage financial operations for the combined business. The company will have US  headquarters in St. Paul, Minnesota and global headquarters in Sofia, Bulgaria. “This merger represents a strategic move to position ourselves as the premier market leader in the smart security industry,” said Peter Tzvetkov. “We are excited about the future and the offerings we’ll provide to both our current and prospective customers, making available unmatched security

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BOCA RATON, Fla / ST. PAUL, Minn. – (October 2, 2023) – We are pleased to announce the merger of M2M Services, an award-winning provider of universal alarm panel communicators, connectivity, and interactive services, with Alula, a leader in the smart security and Internet of Things (IoT) industries. Operating under the name M2M Services, the combined entity will leverage the strengths of both companies. The merger marks a significant achievement in the industry, creating a company with unrivaled products and services that cater to the ever-evolving demands of the smart security market and the professionals who serve it.

The combined companies will be led by Peter Tzvetkov, CEO of M2M Services. Dave Mayne, President of Alula, will lead North America operations and oversee global sales and marketing. Gregg Waldon, CFO of Alula, will manage financial operations for the combined business. The company will have US  headquarters in St. Paul, Minnesota and global headquarters in Sofia, Bulgaria.

“This merger represents a strategic move to position ourselves as the premier market leader in the smart security industry,” said Peter Tzvetkov. “We are excited about the future and the offerings
we’ll provide to both our current and prospective customers, making available unmatched security solutions that provide peace of mind and seamless control over the connected environments they
create and monitor.”

Dave Mayne stated, “The merger with M2M opens up new horizons for Alula as we combine our expertise to set new benchmarks for quality, engineering and innovative security offerings.
Together, we are committed to empowering our customers with advanced technologies that redefine the way they protect what matters most.” Mayne continued, “As a combined business
over 1.25 million rooftops will be actively using our service platform to protect their properties and add convenience to the lives of those residing and working there. We are committed to
continued innovation around the connected security market.”

Key highlights of the merger include:

  • Expanded Product Portfolio: The new business will offer an extensive range of smart security solutions that encompass cutting-edge hardware, services, and cloud-based technologies. Customers will enjoy an even broader array of products tailored to meet their unique security needs.
  • Enhanced R&D Capabilities: By pooling research and development resources, the new M2M Services will accelerate the pace of innovation, creating new technologies that drive the industry forward and enhance the overall user experience.
  • Unparalleled Expertise: The new M2M Services brings together a team of industry veterans and seasoned experts from both companies. This combined expertise will enable the company to address market challenges and anticipate future trends effectively.
  • Customer-Centric Approach: Both M2M and Alula share a common commitment to exceptional customer service. As a merged entity, they will continue to prioritize customer satisfaction, offering responsive support and tailored solutions to meet individual needs.

ABOUT THE NEW M2M SERVICES:
The new M2M Services will be a game-changer in the smart security industry, offering a comprehensive suite of communicators and IoT-enabled solutions that safeguard homes and businesses. By merging the strengths of M2M and Alula, the company will be positioned to deliver unmatched capabilities that redefine expectations and enhance the overall customer experience. Offering professional security providers options in smart security communications, comprehensive system solutions and security platform services is our specialty.

ABOUT ALULA
Alula’s award-winning security, automation and fire solutions are purpose-built for today’s independent security dealer and integrator professionals. Alula offers end-to-end alarm and interactive services, a mobile app, dealer portal, wireless security/smart system, universal communicators, translators, cameras, sensors and more. Alula’s mission is to provide differentiated security, automation and smart property solutions that help professional alarm dealers and integrators grow their business more profitably. For more information about Alula, visit https://alula.com/.

ABOUT M2M SERVICES
M2M Services is on a mission to accelerate the mass adoption of smart security worldwide through universal and affordable IoT solutions. The company creates simple, innovative and dependable technology that helps alarm companies bring smart security to every household and business around the world. The company operates in more than 50 countries on 6 continents, serving over 10,000 businesses and impacting the daily lives of millions of end-users. For more information about M2M, visit https://m2mservices.com/.

Raymond James served as exclusive financial advisor on the transaction.

For media inquiries, please contact:
Lynda Murphy
Murphy Knott Public Relation, Inc.
lynda@murphyknott.com
(312) 867-9177

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Transfr Closes $40M in Series C Growth Funding to Enable Career Mobility for Undiscovered Talent Through Its Virtual Reality Platform https://abscapital.com/newportcotransfr/ Thu, 28 Sep 2023 15:43:26 +0000 https://abscapital.com/?p=1009087 NEW YORK–(BUSINESS WIRE)–Transfr, an emerging leader in virtual reality-based skills training for middle-skilled careers, announced a $40 million investment today. The Series C growth capital investment round was led by ABS Capital to further develop Transfr’s virtual reality (VR) simulation and training platform and to expand its programs to accommodate its rapidly growing customer base, which has more than doubled year over year from 2019-2023. JPMorgan Chase Impact Finance and Advisory joined the Series C round along with existing investors: Lumos Capital Group, who led the Series B; Akkadian Ventures, Spring Tide Capital, and Firework Ventures, who led the Series A; and Album, who led the Series Seed. This round brings the total investment in Transfr to over $90 million since its founding in 2017. “About two-thirds of the American workforce do not have a college degree.1 There is a massive opportunity for both private and public entities to utilize VR training programs to create alternative pathways to employment” Middle-skills careers are defined as jobs that require more training and education than a high school diploma but less than a four-year college degree and are considered the backbone of America’s workforce. This category makes up more than half of the U.S. labor

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NEW YORK–(BUSINESS WIRE)–Transfr, an emerging leader in virtual reality-based skills training for middle-skilled careers, announced a $40 million investment today. The Series C growth capital investment round was led by ABS Capital to further develop Transfr’s virtual reality (VR) simulation and training platform and to expand its programs to accommodate its rapidly growing customer base, which has more than doubled year over year from 2019-2023. JPMorgan Chase Impact Finance and Advisory joined the Series C round along with existing investors: Lumos Capital Group, who led the Series B; Akkadian Ventures, Spring Tide Capital, and Firework Ventures, who led the Series A; and Album, who led the Series Seed. This round brings the total investment in Transfr to over $90 million since its founding in 2017.

“About two-thirds of the American workforce do not have a college degree.1 There is a massive opportunity for both private and public entities to utilize VR training programs to create alternative pathways to employment”

Middle-skills careers are defined as jobs that require more training and education than a high school diploma but less than a four-year college degree and are considered the backbone of America’s workforce. This category makes up more than half of the U.S. labor market, while only 43 percent of the labor force has the training required to fill these roles. The lack of training currently available to those looking to fill these jobs presents an opportunity for the private and public sectors to invest in solutions that make it easier to close the skill gap.

“About two-thirds of the American workforce do not have a college degree.1 There is a massive opportunity for both private and public entities to utilize VR training programs to create alternative pathways to employment,” said Bharani Rajakumar, Transfr founder and CEO, and Ernst & Young Entrepreneur of the Year Finalist. “This $40 million investment enables Transfr to continue to invest in undiscovered talent by developing more simulations and solutions to connect the classroom to career pathway with our partners in education and industry and hire the talent we need to scale and achieve our mission.”

Transfr’s mission is to scale access to quality education and employment for everyone, regardless of their background or location. The company developed an innovative VR-based platform, which hosts over 300 simulations that focus on careers that do not require a four-year degree. It has established a first-mover advantage in the Career Training and Education (CTE) market, with VR simulation training seeing $263 billion in global spending annually with an opportunity for rapid growth.

Transfr is now deployed in over 1,000 locations nationwide, including community colleges, trade schools, employers, prisons, and K-12 schools across Automotive, Aviation, Construction, Diesel, Electrical, Hospitality and Tourism, Manufacturing, and Healthcare. With this diverse industry set, Transfr has increased its user base by 10x over the last year, with trainees having completed over 400,000 simulations, helping incumbent workers, job-seekers, and students leverage the company’s virtual reality platform to build the skills needed to excel in middle-skills careers.

ABS Capital Partners Phil Clough will join Transfr’s board of directors, and Jennifer Krusius, also a Partner at ABS Capital, will serve as a board observer. Clough says, “We believe that Transfr and its experienced management team are uniquely positioned to capitalize on the tailwind from the challenges in the labor market by providing innovative training solutions that can efficiently bring qualified candidates to market.”

Krusius added, “Transfr’s VR platform offers a cost-effective alternative in the educational landscape that can reach many workforce candidates that otherwise would not have had access to this level of training and coaching.”

Transfr plans to leverage the capital investment to further build out its executive leadership team and scale its platform and impact, enabling more people to explore, learn, and connect with career opportunities in high-growth sectors such as manufacturing, skilled trades, and healthcare. The funding will also be used to invest in developing new training simulations that cover a wider range of skills and scenarios, as well as to enhance existing ones with more features, including offering training in Spanish.

If you are interested in bringing Transfr’s platform and services to your organization or community, please visit Transfr’s website or schedule a demo of the platform.

_____________________
1
 Scott, R. E., & Cooper, D. (2016, March 30). Almost two-thirds of people in the labor force do not have a college degreehttps://www.epi.org/publication/almost-two-thirds-of-people-in-the-labor-force-do-not-have-a-college-degree/

About Transfr
Transfr is an emerging leader in virtual reality (VR) based vocational career exploration and pre-apprentice training. Transfr provides hands-on and immersive-simulation training for high growth in-demand careers that give real-world experience in the skills needed for job success, development, and retention. Using a headset, trainees are guided through simulations by a digital coach to engage in career exploration, job training, and practice and assessment use cases. Transfr’s innovative platform promotes ever-improving quality and lower development costs of VR simulations. For more information, please visit https://transfrinc.com/.

About ABS Capital
ABS Capital provides growth equity capital to B2B software and tech-enabled services businesses with strong technology and data underpinnings looking to scale with the right partners. Building growth-stage businesses has been ABS Capital’s focus for more than 30 years. Over that time, ABS Capital has invested more than $2.5 billion in approximately 130 companies across eight funds. Bringing investing, operational, infrastructure, technology, and business development skills to amplify the success of growing businesses together with data-driven business strategies, market research and analytics, ABS Capital works intensively in close partnership with talented management teams. ABS Capital: building emerging growth businesses into industry leaders. For more information, visit www.abscapital.com.

About Lumos Capital
Lumos Capital Group is an investment firm that focuses on dynamic growth-stage companies in the human capital development sector (education technology, workforce development, knowledge services). Lumos takes an active approach by committing time, network, and capital to accelerate their portfolio companies’ product leadership and international expansion and enabling them to achieve enduring market leadership. For more information, please visit www.lumoscapitalgroup.com.

Contacts

Media Contact

Mike Nourie
SalientMG
mike@salientmg.com

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ABS Capital Partner Jennifer Krusius Honored As One of GrowthCap’s Top Women Leaders in Growth Investing of 2023 https://abscapital.com/abs-capital-partner-jennifer-krusius-honored-as-one-of-growthcaps-top-women-leaders-in-growth-investing-of-2023/ Thu, 27 Jul 2023 12:35:20 +0000 https://abscapital.com/?p=1009085 ABS Capital is proud to announce that Partner Jennifer Krusius has been recognized as one of GrowthCap’s Top Women Leaders in Growth Investing of 2023. To read more about this special award and to see the complete list of awardees, click here.

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ABS Capital is proud to announce that Partner Jennifer Krusius has been recognized as one of GrowthCap’s Top Women Leaders in Growth Investing of 2023.

To read more about this special award and to see the complete list of awardees, click here.

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ABS Capital Promotes Roshan Potarazu to Senior Associate https://abscapital.com/abs-capital-promotes-roshan-potarazu-to-senior-associate/ Tue, 11 Jul 2023 12:24:07 +0000 https://abscapital.com/?p=1009081 ABS Capital is pleased to announce that Roshan Potarazu has been promoted to Senior Associate.

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ABS Capital is pleased to announce that Roshan Potarazu has been promoted to Senior Associate.

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ValidiFI Relaunches With Combined Product Capabilities From Ribbit to Offer Industry-Leading Credit Risk & Validation Solutions https://abscapital.com/validifi-relaunches-with-combined-product-capabilities-from-ribbit-to-offer-industry-leading-credit-risk-validation-solutions/ Wed, 05 Jul 2023 17:56:13 +0000 https://abscapital.com/?p=1009071 ATLANTA, GA, July 5, 2023 – Today, ValidiFI, announces its official relaunch following its acquisition by RIBBIT in June 2023. Moving forward, the combined company will operate under the ValidiFI name and branding, serving a broader range of industries and customers.  This strategic combination has now created one of the industry’s largest alternative databases of bank and payment data. “We are excited to take this next step in the company’s trajectory and move forward as a stronger version of ValidiFI,” says Greg Rable, CEO, ValidiFI. “Combining the expertise of the two companies was an important decision that will better serve the needs of the current marketplace.” As part of the company’s relaunch, the ValidiFI team has developed a streamlined suite of credit risk and validation solutions. The enhanced product mix leverages combined proprietary bank and payment performance data to provide industry-leading solutions for credit risk, fraud, identity verification, account validation and account ownership for a broad range of industries and use cases. “ValidiFI’s proprietary database of bank and payment data is constantly scaling, providing the most robust credit risk data, payment and identity data for validation and fraud and compliance data,” adds Rable. “We look forward to better serving new and existing

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ATLANTA, GA, July 5, 2023 – Today, ValidiFI, announces its official relaunch following its acquisition by RIBBIT in June 2023.

Moving forward, the combined company will operate under the ValidiFI name and branding, serving a broader range of industries and customers.  This strategic combination has now created one of the industry’s largest alternative databases of bank and payment data.

“We are excited to take this next step in the company’s trajectory and move forward as a stronger version of ValidiFI,” says Greg Rable, CEO, ValidiFI. “Combining the expertise of the two companies was an important decision that will better serve the needs of the current marketplace.”

As part of the company’s relaunch, the ValidiFI team has developed a streamlined suite of credit risk and validation solutions. The enhanced product mix leverages combined proprietary bank and payment performance data to provide industry-leading solutions for credit risk, fraud, identity verification, account validation and account ownership for a broad range of industries and use cases.

“ValidiFI’s proprietary database of bank and payment data is constantly scaling, providing the most robust credit risk data, payment and identity data for validation and fraud and compliance data,” adds Rable. “We look forward to better serving new and existing customers with our best-in-class solutions and service.”

The company’s dedication to innovation has resulted in an unrivaled set of offerings that will empower businesses to make smarter decisions, mitigate risks, and drive growth. Among the flagship products included in ValidiFI’s relaunch is vAccount, an enhanced account verification solution designed to effectively combat fraud.

In addition to vAccount, ValidiFI is proud to introduce vCredit, a breakthrough solution that utilizes proprietary bank and payment data to accurately predict both early and later-stage default. This predictive solution enables businesses to make more informed credit decisions and manage their risk effectively. By leveraging ValidiFI’s extensive data insights, organizations can confidently optimize their risk models, maintain compliance and enhance their overall financial performance.

“We are keenly focused on what customers need most and creating leading-edge solutions that raise the bar in predictive analytics,” says Rable. “We took the best from each company’s offerings and married them together to improve product breadth and depth in the marketplace. We are eager to introduce our updated solutions to our customers and to new markets.”

Connect with us here to receive the latest updates on the company, products and more.

About ValidiFI

ValidiFI is a consumer reporting agency offering the largest alternative database of bank and payment data, through its credit, risk and validation solutions. The company utilizes proprietary bank and payment performance data to deliver industry-leading credit risk, fraud, identity, account validation and account ownership solutions for a broad range of industries. ValidiFI enables clients to apply its unique data offerings to create efficiency and maximize profit. Learn more about our solutions at validifi.com.

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ABS Capital Welcomes Our Newest Operating Advisor Darcy Antonellis https://abscapital.com/abs-capital-welcomes-our-newest-operating-advisor-darcy-antonellis/ Wed, 28 Jun 2023 17:51:01 +0000 https://abscapital.com/?p=1009052 ABS Capital is honored to welcome Darcy Antonellis as our newest Operating Advisor. Darcy brings with her a wealth of knowledge and experience in TMT and we look forward to having her work with ABS’s portfolio companies.  

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ABS Capital is honored to welcome Darcy Antonellis as our newest Operating Advisor.

Darcy brings with her a wealth of knowledge and experience in TMT and we look forward to having her work with ABS’s portfolio companies.

 

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RIBBIT Acquires ValidiFI, Bolstering Data, Products and Market Presence https://abscapital.com/ribbit-acquires-validifi-bolstering-data-products-and-market-presence/ Thu, 01 Jun 2023 12:00:12 +0000 https://abscapital.com/?p=1009036 Purchase will make the company the largest banking and payment data platform in the industry ATLANTA (May 31, 2023) – RIBBIT, Inc., the authority on alternative bank and payment data, today announces its acquisition of  ValidiFI, a leading provider of fraud, compliance, and risk mitigation solutions. The acquisition will create the industry’s leading banking and payment data solutions platform, improving the company’s product offering and creating the largest alternative database of bank and payment data in the marketplace. RIBBIT’s predictive analytics and data assets combined with ValidiFI’s verification and compliance solutions will more than double an already strong market presence in addition to expanding the breadth and depth of products and services offered. “I’m excited about the enormous opportunity to bring these two dynamic, industry-leading companies together,” says Greg Rable, CEO of RIBBIT. “The combination of talented people, robust data, and best-in-class products makes this a win-win for our customers and us.” “Through this process I have been impressed by the commonality of entrepreneurial grit and innovation between our two companies.” says Oscar DiVeroli, Founder and CEO of ValidiFI, “I am confident that our combined company will raise the bar in terms of predictive insights and leading-edge customer solutions.” RIBBIT

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Purchase will make the company the largest banking and payment data platform in the industry


ATLANTA (May 31, 2023) – RIBBIT, Inc., the authority on alternative bank and payment data, today announces its acquisition of  ValidiFI, a leading provider of fraud, compliance, and risk mitigation solutions. The acquisition will create the industry’s leading banking and payment data solutions platform, improving the company’s product offering and creating the largest alternative database of bank and payment data in the marketplace.

RIBBIT’s predictive analytics and data assets combined with ValidiFI’s verification and compliance solutions will more than double an already strong market presence in addition to expanding the breadth and depth of products and services offered.

“I’m excited about the enormous opportunity to bring these two dynamic, industry-leading companies together,” says Greg Rable, CEO of RIBBIT. “The combination of talented people, robust data, and best-in-class products makes this a win-win for our customers and us.”

“Through this process I have been impressed by the commonality of entrepreneurial grit and innovation between our two companies.” says Oscar DiVeroli, Founder and CEO of ValidiFI, “I am confident that our combined company will raise the bar in terms of predictive insights and leading-edge customer solutions.”

RIBBIT led the acquisition with support from their existing investor ABS Capital and added new investor MissionOG to their team.

Additional updates will be released in the coming weeks. RIBBIT CEO Greg Rable is available for comment and interviews.

For more information about RIBBIT, visit www.ribbit.ai.

About RIBBIT
RIBBIT, the Bank Behavior Data Experts, leverage the predictive power of bank data across the credit and payment lifecycle. RIBBIT’s data insights enable lenders, fintechs, and banks to identify fraud, assess credit risk and determine affordability. Learn more about RIBBIT at www.RIBBIT.ai.

About ValidiFI
ValidiFI, a specialty consumer reporting agency, leverages banking and payment data across the credit lifecycle offering compliance and risk mitigation solutions. Through its FCRA and GLBA solution suites, ValidiFI enables clients to apply its unique data offerings to create efficiency and maximize profit.  Learn more about our solutions at validifi.com.

About ABS Capital
ABS Capital provides growth equity capital to B2B software and tech-enabled services businesses with strong technology and data underpinnings looking to scale with the right partners. Building growth-stage businesses has been ABS Capital’s focus for more than 30 years. Over that time, ABS Capital has invested more than $2.5 billion in approximately 130 companies across eight funds. Bringing investing, operational, infrastructure, technology, and business development skills to amplify the success of growing businesses together with data-driven business strategies, market research and analytics, ABS Capital works intensively in close partnership with talented management teams. ABS Capital: building emerging growth businesses into industry leaders. For more information, visit www.abscapital.com.

About MissionOG
MissionOG partners with high-growth businesses that have proven models in segments where we have had success as operators and investors, including financial services and payments, data platforms, and software. We apply our experience and capabilities to a group of highly skilled and passionate entrepreneurs whose businesses are on the cusp of exponential growth. The firm is managed by operators and investors who have effectively built early to growth stage businesses and guided them through successful acquisitions. MissionOG is headquartered in Philadelphia. For more information visit https://missionog.com/.

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Scene Health Secures $17.7 Million Series B Financing Led by ABS Capital Partners https://abscapital.com/scene-health-secures-17-7-million-series-b-financing-led-by-abs-capital-partners/ Wed, 12 Apr 2023 12:39:08 +0000 https://abscapital.com/?p=1008987 Funding Will Grow Medication Adherence Services for Medicaid and Other Under-resourced Populations Baltimore, MD (April 12, 2023) – Scene Health, the leading medication engagement company, has closed an oversubscribed $17.7 million Series B growth financing led by ABS Capital Partners with participation from existing investors Claritas Health Ventures, as well as Healthworx, the innovation and investment arm of CareFirst BlueCross BlueShield, PTX Capital, and Kapor Capital. The investment is the latest validation of Scene Health’s unique video-based platform, which empowers people to take medication properly through person-to-person connections, every day. This week’s funding announcement comes on the heels of: The recent CDC endorsement of video Directly Observed Therapy (video DOT) as equivalent to in-person DOT for tuberculosis treatment. Last week’s announcement of a $1.67 million National Institutes of Health (NIH) grant allowing Scene to provide medication adherence support to pediatric heart transplant recipients in Florida. Scene reaching a milestone of impacting more than 200,000 lives with over 40M engagements through its 360° model of care. Series B funding proceeds will enable Scene to further accelerate its ability to serve Medicaid and Medicare managed care plans, pharmaceutical companies, and clinical research organizations. This financing brings the total investment in Scene to

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Funding Will Grow Medication Adherence Services for Medicaid and Other Under-resourced Populations

Baltimore, MD (April 12, 2023) – Scene Health, the leading medication engagement company, has closed an oversubscribed $17.7 million Series B growth financing led by ABS Capital Partners with participation from existing investors Claritas Health Ventures, as well as Healthworx, the innovation and investment arm of CareFirst BlueCross BlueShield, PTX Capital, and Kapor Capital.

The investment is the latest validation of Scene Health’s unique video-based platform, which empowers people to take medication properly through person-to-person connections, every day. This week’s funding announcement comes on the heels of:

  • The recent CDC endorsement of video Directly Observed Therapy (video DOT) as equivalent to in-person DOT for tuberculosis treatment.
  • Last week’s announcement of a $1.67 million National Institutes of Health (NIH) grant allowing Scene to provide medication adherence support to pediatric heart transplant recipients in Florida.
  • Scene reaching a milestone of impacting more than 200,000 lives with over 40M engagements through its 360° model of care.

Series B funding proceeds will enable Scene to further accelerate its ability to serve Medicaid and Medicare managed care plans, pharmaceutical companies, and clinical research organizations. This financing brings the total investment in Scene to over $25 million since its founding in 2014.

“This is an incredible opportunity for Scene Health and it comes with a very important obligation to meaningfully impact millions of people who struggle with chronic and infectious conditions” said Sebastian Seiguer, co-founder and CEO of Scene Health. “Nonadherence, or not taking medication as prescribed, is one of the most insidious causes of mortality and cost in our healthcare system. We’ve taken the gold standard solution to the problem from the inpatient setting and enhanced it for scale in outpatient care using video technology and a compassionate care team. This funding is a critical milestone to defining a new, modern standard for supporting medication adherence using evidence-based public health strategies.”

Medication nonadherence is a $500 billion challenge in the U.S. and the leading cause of preventable hospitalizations. Scene’s tech-enabled solution provides personalized engagement through video technology, clinical coaching, and validated interventions to improve medication adherence rates and address barriers related to social determinants of health. Through daily one-on-one video and in-app chat interactions, Scene’s care team of pharmacists, nurses, and health coaches build relationships with patients like young Elajah to improve their medication administration technique, adherence, and motivation. 

“Scene’s solution directly aligns with the quadruple aim in healthcare – enhancing the patient experience, improving a population’s clinical and quality outcomes, improving care providers’ work lives, and reducing costs,” says ABS Capital Partner Cal Wheaton who led the investment and will be joining Scene’s board of directors. “We are thrilled to be partnering with Scene and its experienced team to expand the scope of Scene’s positive patient engagement and impact, while meaningfully reducing the financial burden associated with medication nonadherence for Scene’s varied customers.”

 

About Scene Health

Scene (formerly emocha) brings healthcare professionals, patients, and their families together to solve the $500 billion medication nonadherence problem. Scene’s mobile app allows patients to connect with a care team of pharmacists, nurses, and health coaches through daily video check-ins anytime and anywhere. Research in 19 peer-reviewed publications so far has demonstrated that Scene dramatically increases patient engagement, improves health outcomes, and reduces overall costs for healthcare payors. Scene currently delivers programs for 720 customers across Medicaid and Medicare Managed Care Organizations, public health departments, and life science organizations covering multiple chronic and infectious conditions, including diabetes, asthma, cholesterol, opioid use disorder, hepatitis C, tuberculosis, hypertension, solid organ transplants, and sickle cell disease.  For more information, visit www.scene.health.

About ABS Capital

ABS Capital provides growth equity capital to B2B software and tech-enabled services businesses with strong technology and data underpinnings looking to scale with the right partners. Building growth-stage businesses has been ABS Capital’s focus for more than 30 years. Over that time, ABS Capital has invested more than $2.5 billion in approximately 130 companies across eight funds. Bringing investing, operational, infrastructure, technology, and business development skills to amplify the success of growing businesses together with data-driven business strategies, market research and analytics, ABS Capital works intensively in close partnership with talented management teams. ABS Capital: building emerging growth businesses into industry leaders. For more information, visit www.abscapital.com.

Contact: Liz DeForest

Email: scene@theblissgrp.com

 

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