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"We just didn't see the ROI except for in healthcare," Thoughtful AI cofounder and CEO Alex Zekoff said. AdvertisementThe Austin, Texas-based startup just grabbed $20 million in Series A funding, led by Drive Capital and including TriplePoint Capital. Thoughtful AI is also announcing its first three AI agents, named CAM, EVA, and PHIL, to process medical claims, check patient insurance coverage, and record payments. Zekoff said Thoughtful AI aims to hit $10 million in annual recurring revenue by the end of the summer. Check out the presentation Thoughtful AI used to raise $20 million from Drive Capital.
Persons: , Alex Zekoff, it's, PHIL, — it's, Zekoff Organizations: Service, Business, Drive Capital, TriplePoint, Athelas, Big Tech Locations: Austin , Texas, Brazil, Romania
FilmHedge closed in March on a $5 million funding round and has a $100 million credit facility. FilmHedge, an Atlanta-based fintech launched in February 2020, provides liquidity to productions with budgets ranging from $1 million to $50 million. It follows a $100 million credit facility from Coromandel Capital and Fallbrook Capital in 2022, which helps FilmHedge finance projects. "We have access to $100 million, but we see around $70 million in applicants per month," he said, "so we have to pass on a lot of deals." FilmHedge gave Insider a look at the 18-page pitch deck it used while raising its $5 million Series A round and $100 million credit facility — check it out here.
Persons: FilmHedge, Jon Gosier, fintech, May FilmHedge, Gosier, , Axios, FilmHedge hadn't Organizations: Hollywood, Netflix, Entertainment, Variety, Lionsgate, Disney, Collab, WOCStar, Savannah College of Art & Design, TriplePoint, Coromandel Capital, Fallbrook, Media Locations: Atlanta, Coromandel, Hollywood
FilmHedge lends credit to movies and TV shows with budgetary needs between $1 million and $5 million. The 3-year-old fintech closed on a $5 million round in March and has a $100 million credit facility. FilmHedge, an Atlanta-based fintech launched in February 2020, provides liquidity to productions with budgets ranging from $1 million to $50 million. It follows a $100 million credit facility from Coromandel Capital and Fallbrook Capital in 2022, which helps FilmHedge finance projects. FilmHedge gave Insider a look at the 18-page pitch deck it used while raising its $5 million Series A round and $100 million credit facility — check it out here.
Design startup Creative Fabrica has raised a $61 million Series B from Alven. The starting gun has fired for venture capitalists racing to get into what is predicted to be a hot field in 2023: anything involving generative AI. What has piqued investor interest is the startup's implementation of generative AI. "So generative AI is a very natural extension to our content library, where we can become hyper-personal." The team's "demonstrated early leadership in generative AI" was a key factor that put them in good stead for growth, said Frederic Court, founder of Felix Capital.
QUICK COMMERCEThe Gorillas acquisition makes Getir Europe's largest quick commerce company. LESS CAPITAL, FEWER COUPONSMore than a dozen smaller European quick commerce companies failed or were acquired since mid-2021. While profits may still be distant for the privately-held quick commerce companies, Europe's listed meal delivery companies have all set formal targets for earnings before interest, taxes, depreciation and amortisation (EBITDA). Shares in the European delivery companies are down around 60% from a year ago, but have traded sideways since June. So to "all the naysayers saying 'quick commerce is over - No.
SummarySummary Companies AlbionVC backs OutThink's $10 million seed funding roundFinancing to speed up the firm's international distributionCo to help identify human behaviour behind data breachesOct 18 (Reuters) - London-based cybersecurity company OutThink has raised $10 million in early-stage investments backed by venture capital firm AlbionVC, it said on Tuesday, as it looks to help organisations identify human behaviour that can lead to data breaches. The company, which says human behaviour is the source of 91% of data breaches, uses machine learning, natural language processing and applied psychology to identify, understand and manage the attitudes, intentions and sentiment of individuals. The financing, in which TriplePoint Capital, Forward Partners, Gapminder and Innovate UK took part, brings the firm's total funding to $11.4 million. OutThink said its platform was used by major organisations, including Whirlpool (WHR.N), Danske Bank (DANSKE.CO), Rothschild (ROTH.PA) and NatWest (NWG.L). Register now for FREE unlimited access to Reuters.com RegisterReporting by Juliette Portala, editing by Supantha Mukherjee and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Step, a banking app designed for teens, said Tuesday it raised $300 million in debt. Step has now raised $500 million in equity and debt from a bevy of venture and celebrity backers. On Tuesday, financial-technology startup Step announced $300 million in debt funding led by venture-debt specialist TriplePoint Capital, with participation from Step's banking partner, Evolve Bank & Trust. The startup has previously raised $200 million in equity funding since launching in 2018. "In a matter of just the last couple of years, there's been a lot of volatility" in crypto, MacDonald said.
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