Latest news with #SeriesA
Business Wire
2 days ago
- Business
- Business Wire
Multiplier Holdings Launches With $27.5 Million in Funding to Accelerate the AI Journey for Professional Services Firms
SINGAPORE--(BUSINESS WIRE)--Today, Multiplier Holdings, a technology company building AI-native professional services firms, publicly launched with $27.5 million in Seed and Series A funding. The Series A round was led by Lightspeed Venture Partners with participation from Ribbit Capital (led the Seed), EDBI, and SV Angel. Multiplier is helping to overcome the AI adoption hurdle by acquiring specialized professional services firms and integrating custom AI automation to deliver better results for clients, drive efficiency and fuel growth. Globally, the professional services market is valued at over $6 trillion, and is projected to grow significantly in the coming years (e.g., tax advisory services are forecasted to grow at 11.2% CAGR). Tax, accounting, specialized advisory and other high-stakes professional services firms face more demand than they can supply with a declining workforce, alongside high labor costs and legacy technologies. Multiplier acquires ambitious boutique services firms, onboards them to its AI-driven practice management platform, and then iteratively and diligently works with the firms' domain experts to uplevel the client experience and improve the scalability of the business. "Vertical SaaS might not be the best path to modernize an industry. Building an AI-native professional services platform from the ground up creates the most technological leverage and captures more incentive alignment between domain and technology experts than traditional SaaS,' said Justin Overdorff, Partner at Lightspeed Venture Partners. 'The Multiplier approach—an AI-first software company acquiring existing service firms to compete directly in the services business by using proprietary technology—allows us to elevate the client and staff experience in a radical way. As it scales, Multiplier can become the preferred buyer in these categories by underwriting the largest and most repeatable post-acquisition improvements to the business while ensuring firm owners and staff participate in the upside." Multiplier partners with the firms it owns to directly embed its technology, iteratively developing new features and offering hands-on technical support as a long-term owner, working alongside the firm's staff to create customized AI-driven solutions to fit the exact needs of each specialized firm. This approach enables Multiplier to build customizable solutions to automate critical but time-consuming tasks and free up time to deliver better outcomes for clients. "We believe the market will reward players who compete on technology-enabled client service through an integrated platform of people and tech. While our portfolio firms maintain operational independence, we align incentives across all stakeholders—from Multiplier leadership to firm leaders and staff—creating hybrid technology firms with exceptional client service, automation, and quality that traditional firms using off-the-shelf AI solutions simply cannot match," said Noah Pepper, CEO of Multiplier Holdings and former Stripe executive. The model is working. Within the first eight months since starting their tech build-out, Multiplier's AI-powered platform helped Citrine International Tax multiply cash flows by approximately 2.5 times and eliminate large swaths of highly manual work. A significant portion of this lift was shared back with the staff of the firm in the form of performance bonuses while delivering enhanced service to clients. "When Noah approached us, we saw Multiplier as a unique opportunity to become part of a technology firm and deliver a truly differentiated level of client service– all while growing the business together," said Gregory Trotman, founder of Citrine International Tax. 'The Multiplier team immersed themselves in our workflows, built a custom end-to-end technology platform and worked with our staff to streamline everything from client onboarding to billing, resulting in a huge lift in productivity.' Clients are noticing the impact of the technology too: 'Citrine has been a major upgrade compared to prior firms we used. Emily, our advisor at Citrine, is more responsive and easier to work with, and the tools she's using help us gain clarity and confidence about where our return is in the workflow - and rapidly confirm when things have been submitted to the authorities,' said Keith Robinson, an American technology investor and former C-level executive living in London who became a Citrine client in the last year. About Lightspeed Venture Partners Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in AI, Enterprise, Consumer, Health, and Fintech. Over the past 25 years, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Abridge, Affirm, Anthropic, Cato Networks, Epic Games, Glean, Mistral, Moveworks, Navan, Netskope, Rubrik, Snap, Wiz, and more. Lightspeed and its global team currently manage over $30B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. Multiplier Holdings scales high-impact professional services firms through the power of AI. Multiplier's unique model entails acquiring professional services firms, like specialized tax and accounting practices, and transforming them into more scalable, profitable businesses by systematically integrating custom AI solutions. Multiplier holds a library of AI and workflow components developed in-house that can be configured to fit the needs of each acquired firm. This allows Multiplier to automate critical, time-consuming tasks to increase firm efficiency and productivity and drive growth, while improving both the customer and employee experience. To learn more, visit
Cision Canada
2 days ago
- Business
- Cision Canada
Reaction Dynamics Raises CAD $14M in Series A, Reaches CAD $38M in Total Funding Français
A patented propulsion technology positions Reaction Dynamics as a leader in dedicated orbital launch services, rapid replenishment, and reconstitution of satellite constellations. This funding accelerates the path to the company's first suborbital demonstration flight and the commercialization of its launcher, aimed at commercial and defense satellite markets. LE BOURGET, France, June 18, 2025 /CNW/ - Reaction Dynamics, a Canadian aerospace company based in Québec, announces the closing of its CAD $14 million Series A funding round. This round supports the next phase of development of its hybrid propulsion system, with a first suborbital demonstration flight planned for this winter. The announcement was made at the 2025 International Paris Air Show (SIAE) in Le Bourget. Reaction Dynamics is redefining access to space with a new generation of hybrid launchers. Its technology, designed for deployment from mobile launch infrastructure, offers unprecedented operational flexibility. This innovation serves the commercial sector by enabling fast and efficient replenishment and reconstitution of constellations. It also supports national security applications, including hypersonic platforms. Its hybrid propulsion system, combining solid fuel and liquid oxidizer, stands out for its simplicity, safety, and operational flexibility. The innovative rocket engine drastically simplifies the propulsion architecture, comprising only about a dozen parts compared to nearly 15,000 in traditional liquid-fueled engines. This type of fuel and oxidizer eliminates explosion risks, increasing safety during both ground and flight operations. Reaction Dynamics' Aurora-8 rocket targets the growing market of small satellites under 200 kilograms, offering affordable, rapid, and precise launches into targeted orbits. The company aims to serve both commercial and defense markets. Since its founding in 2017, Reaction Dynamics has successfully completed all major validation milestones of its now-patented technology, with full-system testing underway and a maiden flight expected this winter. This new investment adds to a CAD $10 million grant from the Government of Québec announced last week, as well as previous seed funding, tax credits, and other public support, bringing the total funds raised to date to CAD $38 million. This substantial injection marks a turning point in the company's growth, allowing it to accelerate operations and scale its launch solutions internationally, at a time when space sovereignty is emerging as a strategic national issue. Quote: "We have a clear growth trajectory, with engine testing underway to validate our hybrid propulsion system. A suborbital demonstration flight is scheduled for this winter – a key milestone to demonstrate our technology under real conditions, even though engine reliability is already proven. This funding round will move us closer to commercial deployment and solidify our role as a key player in the Quebec and Canadian space ecosystem," said Bachar Elzein, CEO and CTO of Reaction Dynamics. About Reaction Dynamics Reaction Dynamics is a Quebec-based aerospace company founded in 2017 and headquartered in Longueuil. It specializes in the design of hybrid rockets. With its patented technology that simplifies and secures space launches, Reaction Dynamics offers flexible, cost-effective solutions to quickly deploy small commercial and defense satellites into orbit. The company is contributing to building a dynamic space sector in Quebec while addressing the growing global demand for rapid, on-demand access to space.
Yahoo
2 days ago
- Business
- Yahoo
Reaction Dynamics Raises CAD $14M in Series A, Reaches CAD $38M in Total Funding
A patented propulsion technology positions Reaction Dynamics as a leader in dedicated orbital launch services, rapid replenishment, and reconstitution of satellite constellations. This funding accelerates the path to the company's first suborbital demonstration flight and the commercialization of its launcher, aimed at commercial and defense satellite markets. LE BOURGET, France, June 18, 2025 /CNW/ - Reaction Dynamics, a Canadian aerospace company based in Québec, announces the closing of its CAD $14 million Series A funding round. This round supports the next phase of development of its hybrid propulsion system, with a first suborbital demonstration flight planned for this winter. The announcement was made at the 2025 International Paris Air Show (SIAE) in Le Bourget. Reaction Dynamics is redefining access to space with a new generation of hybrid launchers. Its technology, designed for deployment from mobile launch infrastructure, offers unprecedented operational flexibility. This innovation serves the commercial sector by enabling fast and efficient replenishment and reconstitution of constellations. It also supports national security applications, including hypersonic platforms. Its hybrid propulsion system, combining solid fuel and liquid oxidizer, stands out for its simplicity, safety, and operational flexibility. The innovative rocket engine drastically simplifies the propulsion architecture, comprising only about a dozen parts compared to nearly 15,000 in traditional liquid-fueled engines. This type of fuel and oxidizer eliminates explosion risks, increasing safety during both ground and flight operations. Reaction Dynamics' Aurora-8 rocket targets the growing market of small satellites under 200 kilograms, offering affordable, rapid, and precise launches into targeted orbits. The company aims to serve both commercial and defense markets. Since its founding in 2017, Reaction Dynamics has successfully completed all major validation milestones of its now-patented technology, with full-system testing underway and a maiden flight expected this winter. This new investment adds to a CAD $10 million grant from the Government of Québec announced last week, as well as previous seed funding, tax credits, and other public support, bringing the total funds raised to date to CAD $38 million. This substantial injection marks a turning point in the company's growth, allowing it to accelerate operations and scale its launch solutions internationally, at a time when space sovereignty is emerging as a strategic national issue. Quote: "We have a clear growth trajectory, with engine testing underway to validate our hybrid propulsion system. A suborbital demonstration flight is scheduled for this winter – a key milestone to demonstrate our technology under real conditions, even though engine reliability is already proven. This funding round will move us closer to commercial deployment and solidify our role as a key player in the Quebec and Canadian space ecosystem," said Bachar Elzein, CEO and CTO of Reaction Dynamics. About Reaction Dynamics Reaction Dynamics is a Quebec-based aerospace company founded in 2017 and headquartered in Longueuil. It specializes in the design of hybrid rockets. With its patented technology that simplifies and secures space launches, Reaction Dynamics offers flexible, cost-effective solutions to quickly deploy small commercial and defense satellites into orbit. The company is contributing to building a dynamic space sector in Quebec while addressing the growing global demand for rapid, on-demand access to space. SOURCE Reaction Dynamics Lab Inc. View original content:
Business Wire
2 days ago
- Business
- Business Wire
Infinity Bio Closes $8M Series A Financing Led by Illumina Ventures to Expand Leadership in Antibody Reactome Profiling
BALTIMORE--(BUSINESS WIRE)--Infinity Bio, a biotechnology company pioneering technologies to map immune responses at scale, today announced the successful closing of an $8 million Series A financing round. The round was led by Illumina Ventures, with participation from PTX Capital, Blackbird BioVentures, and Propel Baltimore Fund. 'This raise marks a major milestone for Infinity Bio,' said Joy Nassif, Chief Executive Officer of the company. 'We are building the foundation for a new category of immune system intelligence: accessible, scalable, and deeply informative." As part of the strategic plan to broaden its suite of service offerings, Infinity Bio has acquired the assets of Serimmune, Inc., which was founded in 2014 to provide unbiased antibody reactome services. New MIPSA™ service offerings, including EnviroSIGHT™, are also expected to launch in the second half of 2025. Infinity Bio will use the proceeds to expand its commercial footprint, accelerate development of its proprietary MIPSA™ platform, and launch new immune profiling services. The platform enables unbiased, high-resolution analysis of the antibody reactome, an emerging field critical to understanding immune responses in health and disease. 'This raise marks a major milestone for Infinity Bio,' said Joy Nassif, Chief Executive Officer of the company. 'We are building the foundation for a new category of immune system intelligence: accessible, scalable, and deeply informative. With support from our investors, we can now move faster to deliver that vision.' Since its founding in 2023, Infinity Bio has built out a 9,000 square-foot laboratory in Baltimore and developed a suite of core services including HuSIGHT™, VirSIGHT™, AllerSIGHT™, and MuSIGHT™, designed to support applications in biomarker discovery, basic and translational research, and therapeutic development. The company's platform is capable of processing thousands of samples per week, serving academic, government, and biopharma customers. 'True to our name, Infinity Bio is building a limitless capacity to generate high quality antibody reactome data and deliver valuable biological insights for just about any kind of study,' says Ben Larman, Chief Science Officer of Infinity Bio, and associate professor of pathology at Johns Hopkins University. He adds, 'our technologies illuminate the complex interplay between inflammation, immunity, and health.' 'We applaud the scientific prowess of Infinity Bio to provide insights into the immune system through its antibody reactome profiling platform,' said Malek Faham, MD, PhD, Chief Scientist at Illumina Ventures. 'Combined with the assets from Serimmune, this enhanced, more comprehensive technology is a game changer for biomedical researchers who can use it for a broad range of applications to accelerate their discoveries.' 'We launched Infinity Bio with global ambition to unlock a new layer of immune system data that drives better diagnostics, targeted therapies, and deeper disease insight,' said Matt Hellauer, Managing Partner at PTX Capital and Chairman of Infinity Bio. 'Partnering with a world-class firm like Illumina Ventures reinforces that vision and positions Infinity to scale as the category leader in antibody reactome profiling." For more information, visit About Infinity Bio Infinity Bio, Inc. is a technology company that provides detailed insights into the immune system using its proprietary antibody reactome profiling platform. The company's core technology, MIPSA, is used to comprehensively analyze the antibody reactome, revealing the targets of individual immune responses against all known human viruses, human proteins (autoimmunity), and allergen proteins. Developed at Johns Hopkins University in The Laboratory of Precision Immunology, MIPSA builds on decades of work in genomics, proteomics, immunology, and bioinformatics. Infinity Bio's assays are engineered to enable best-in-class quality, data accuracy, turnaround times and cost-efficiency. For more information, visit About Illumina Ventures Illumina Ventures is an independently managed, healthcare-focused venture firm in a strategic partnership with Illumina (NASDAQ: ILMN). As an early-stage, value-add investor, Illumina Ventures helps entrepreneurs develop breakthrough science and technologies into market-leading companies to transform healthcare. The firm focuses on investment in life science tools, therapeutics, diagnostics, personal wellness, and sustainability. To learn more, visit About PTX Capital PTX Capital is a Baltimore-based private investment firm that backs exceptional entrepreneurs in healthcare and the life sciences. The firm invests in early-stage companies developing software, technology, and services that drive better patient outcomes, enable system-wide integration, and advance the frontiers of precision medicine. PTX works side-by-side with founding teams through the scale-up journey in order to build enduring businesses that transform care and improve health at scale.
Yahoo
3 days ago
- Business
- Yahoo
Optifino Announces Two Key Additions to Leadership Team
Insurance and wealth management industry veterans Ventrice Lam and Mark Forman join as Optifino completes capital raise and exits stealth mode NEW YORK, June 17, 2025 /PRNewswire/ -- Optifino, the digital BGA radically simplifying the life insurance experience, today announced the addition of two industry veterans to its leadership team. Ventrice Lam has been appointed Chief Operating Officer, and Mark Forman has joined as Chief Marketing Officer. Lam, a Goldman Sachs alum, brings extensive operational and growth leadership experience across financial services and insurtech. She most recently served as Head of Business Operations at Cartwheel Care, where she orchestrated a multi-state operational expansion strategy. Prior to that, Lam was Head of National Expansion and Insurance Operations at Lemonade, playing a pivotal role in the company's IPO and acquisition of Metromile. Forman built his career at the intersection of insurance and wealth management, driving growth through key industry transitions. As a member of the Jefferson National leadership team, he helped lead the sale and transition of Jefferson National to Nationwide in 2017 and, as CMO of RetireOne, helped develop and market the outsourced insurance desk model for RIAs. Most recently, he served as fractional CMO at growth consultancy advising wealth management industry clients on marketing strategy and execution. These hires follow the close of Optifino's Series A funding round, led by American Family Ventures with participation from Innovest Holding, HOF Capital, MS&AD Ventures, FJ Labs, and others, fueling the company's next phase of growth. "After completing our Series A with incredible partners, our priority for 2025 is bringing on high-impact talent across Operations, Marketing, and Sales," said David Kleinhandler, Co-Founder and CEO. "Ventrice and Mark are proven leaders who will help us deliver Optifino to insurance agents and financial advisors nationwide." The funding enables Optifino to further invest in tools that empower agents and advisors to integrate permanent life insurance into holistic financial plans. Upcoming developments include advanced underwriting analytics, new agent and client portals, and the recently launched Professional Review tool. "We're building the next-gen platform for modern advisors and insurance agents," added Michael Doniger, Co-Founder and Chief Innovation Officer. "This capital gives us the runway to evolve our offering and grow our team." In addition, Optifino will launch a Founding Agents program in late Q3, following a successful pilot. "I know there isn't a top with Optifino," shared Founding Agent Mike Shean. "As an agent, it can make me more efficient so I can do whatever I want wherever I want. There is no lid on this thing. There are no limits except the ones I put on myself." The company will showcase its platform at Finseca's upcoming Advanced Markets Conference in Washington, DC. Co-Founders Kleinhandler and Doniger will host a breakout session titled "Building the Next-Gen Digital BGA: Making Agents Bionic and Modernizing Life Insurance" on Thursday, June 19 at 8AM. About Optifino Optifino is a digital BGA built by accomplished financial services veterans to radically simplify the life insurance user experience. Optimizing financial and life insurance planning with cutting-edge AI to streamline portfolio management, our tools make it easier for advisors to visualize and identify the right insurance products for their clients at the right time. What used to take hours or even days now takes a matter of minutes. See for yourself and follow us on LinkedIn. Media ContactOptifinoMark Forman396715@ Life insurance technology and life insurance are provided by Optifino, Inc. (DBA Optifino Insurance Services in New York) ("Optifino"). Optifino is a licensed insurance producer in all states where it offers products, and acts as an agent for various insurance companies. License information available here. The information in this presentation has been developed by Optifino, Inc and is for informational purposes only. We do our best to ensure that this information is up-to-date and accurate. Products and specific product features may not be available in all states, and other limitations or restrictions may apply. View original content to download multimedia: SOURCE Optifino
