Favor Delivers On Profitability And Raises $22 Million Series B

Becomes the first US on-demand delivery company to achieve profitability at scale

AUSTIN, Texas, Sept. 7, 2017 /PRNewswire/ -- Favor, the Texas-based on-demand delivery service, today announced two significant company milestones: achieving profitability—to become the first profitable on-demand delivery company in the U.S.—and the closing of a $22 million Series B financing round led by existing investor S3 Ventures.

"Scaling a high-touch, hyper-local logistics business is no easy task, and all the credit goes to our team's relentless focus executing on our strategic growth plan," said Favor CEO & President, Jag Bath. "Achieving profitability at this scale, and the vote of confidence from our existing investors, is validation of what we are doing and underscores the future of the on-demand economy."

The latest funding will support Favor's continued rapid growth throughout the state of Texas and beyond, as well as further accelerate the company's product roadmap. The new investment brings Favor's total funding to $34 million. Favor previously closed a $12 million Series A round led by S3 Ventures, with participation from seed investors Silverton Partners, venture capitalist Tim Draper, and others.

"Favor has proven that they are building a healthy, scalable business, while maintaining their superior service and strong position in the on-demand delivery market," said S3 Ventures Managing Director, Brian R. Smith. "The company's decision to avoid growth at all costs to instead focus on surgical, smart growth, has led them to beat their profitability goal by six months—a truly impressive achievement. We remain excited and confident in Favor's future as they build upon this success."

Favor has completed more than 6 million deliveries since its launch and is on track to complete 4.5 million deliveries in 2017 alone. The increased delivery volume directly benefits Texas businesses, which the company projects will receive $100 million in gross product sales from Favor deliveries this year. To support this rapid growth, the company is onboarding more than 25,000 independent contractors to add to its existing Runner community.

About Favor
Favor is the easiest way to get anything you want in your city delivered to your door in under an hour. Whether it's lunch at the office, a household shopping list or those errands you just don't have time for — your personal assistant (we call them Runners) can deliver it in just a few taps. Founded in 2013, Favor is currently available in 15 cities across Texas, where it is currently the best rated delivery service. www.favordelivery.com

About S3 Ventures
S3 Ventures is an early, expansion and growth stage venture firm with $350 million under management. The firm is focused on information technology solutions that solve large business problems. S3 invests across all stages of a company's growth and partners with management teams to help focus methodically on what it takes to build a successful company. www.s3vc.com

Media Contact
Catherine Nissley, Communications Manager
press@favordelivery.com  | (512) 953-3115

 

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SOURCE Favor

Innoviz Technologies Raises $65M as Its Solid-State LiDAR Moves to Mass Production

Strategic partners Delphi Automotive and Magna International join new and existing investors to back Innoviz's groundbreaking solid-state LiDAR technology on heels of strong adoption

KFAR SABA, Israel, Sept. 7, 2017 /PRNewswire/ -- Innoviz Technologies, a leading provider of LiDAR sensing solutions designed for the mass commercialization of autonomous vehicles, announced today that it has raised $65 million in Series B funding as its groundbreaking LiDAR solution moves into mass production. Strategic partners and global leaders in automated driving solutions Delphi Automotive PLC and Magna International participated in the round, along with additional new investors including 360 Capital Partners, Glory Ventures, Naver and others. All Series A investors, including Zohar Zisapel, Vertex Venture Capital, Magma Venture Partners, Amiti Ventures and Delek Motors, participated in this round. A second closing of this round is expected to be announced soon, introducing additional strategic partners.

"As the autonomous driving market matures, Innoviz has clearly established itself among industry leaders not only as the best-in-class LiDAR solution but also as an integral part of the overall autonomous vehicle stack," said Omer Keilaf, Co-founder and CEO of Innoviz. "Today's financing from strategic partners such as Magna and Delphi demonstrates their support for Innoviz as the industry's leading option for high-performing LiDAR and is further proof that we have moved into the next phase of our growth. Given both Magna's and Delphi's unwavering commitment to high performance and high safety standards, investing in and partnering with Innoviz is a natural choice. With their joint efforts, we will be able to scale more quickly and put autonomous driving technology on the road much faster."

Innoviz offers game-changing LiDAR (Light Detection and Ranging) technology that leverages the company's proprietary System, MEMS and Detector designs to give autonomous vehicles superior sensing capabilities, even in challenging environments such as bright direct sunlight, varying weather conditions and multi-LiDAR environments. The company's unique solid-state design is smaller, more reliable and more durable than existing LiDAR solutions. InnovizPro™, a development platform designed to provide auto manufacturers, Tier 1 suppliers and technology companies with the most advanced LiDAR available for testing and development, will be available in Q1 of 2018. Samples of InnovizOne™, the company's automotive grade LiDAR device for levels 3 - 5 autonomous driving, will be available in 2019.

"Innoviz has delivered the industry's first high-performance LiDAR solution that perfectly meets all of the requirements necessary to take fully autonomous vehicles mainstream," said Nicolas Autret, Partner at 360 Capital Partners. "Based on the impressive adoption Innoviz has generated to date and the extremely talented team they've put together, it's evident that the market has made its decision on who is going to win the LiDAR race and unlock the market's vast potential."

With over 75 employees today, the company has grown quickly since its inception in January 2016 and has achieved a number of significant milestones to help it eclipse competing LiDAR developers in a short timeframe. Founded by former members of the elite technological unit of the Israeli Defense Forces, Innoviz landed a $9 million Series A round in February 2016, and just a few months later revealed its first prototype while also announcing the expected deployment of InnovizOne™. In December 2016, Innoviz publicly announced its first partnership with the leading Tier 1 automotive supplier, Magna International Inc, enabling Magna and Innoviz to jointly collaborate on various OEM programs. In May 2017, Innoviz announced a partnership with manufacturing company Jabil Optics to mass produce InnovizPro™. In August 2017, Innoviz signed a commercial partnership agreement with Delphi, a leader in autonomous driving software and sensors, to integrate its LiDAR into Delphi's systems and create an industry-leading standard for LiDAR integration into autonomous driving systems.

Innoviz's more precise and sophisticated sensing technology also enables it to provide a superior algorithmic layer that uses deep learning to turn 3D vision into critical driving insights. By providing advanced software solutions in areas such as HD mapping and SLAM (Simultaneous Localization And Mapping), the company is able to deliver the superior object detection and classification necessary to move the industry towards mass commercialization.

"While other LiDAR companies remain in the research and development stage, Innoviz is moving into mass production with LiDAR technology that delivers superior performance and affordability in a compact and reliable design," said Zohar Zisapel, Investor, Co-Founder and Chairman of the Board at Innoviz. "Innoviz has set the gold standard for autonomous vehicle LiDAR, and this latest round validates the company's ability to lead the industry forward," added Zisapel.

The funding will enable Innoviz to take its technology to mass production while scaling its computer vision activity, forging new strategic collaborations, and penetrating new areas of development. The company will also hire aggressively to fill positions in engineering, design, sales and other key functions, as well as open new support offices in important regions.

This round of financing brings Innoviz's total funding to $74 million.

About Innoviz Technologies

Innoviz is a leading provider of cutting-edge LiDAR remote sensing solutions to enable the mass commercialization of autonomous vehicles. The company's LiDAR products, InnovizOne™ and InnovizPro™, offer solid-state design that uses Proprietary technology to deliver superior performance at the cost and size required for mass market adoption. Headquartered in Israel, the company was founded in January 2016 by former members of the elite technological unit of the Israeli Defense Forces with renowned expertise in the fields of electro-optics, computer vision, MEMS design and signal processing. Innoviz is backed by strategic partners and top-tier investors throughout the world. For more information, visit www.innoviz.tech.

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SOURCE Innoviz Technologies Ltd

Streamroot lands $3.2 million in financing to redesign content delivery and bring high quality video to viewers across the world

Streamroot has secured funding from premier international venture capital firms for its unique distributed approach to video delivery that is reshaping an industry.

NEW YORK, Sept. 7, 2017 /PRNewswire/ -- Streamroot, pioneer in distributed over-the-top (OTT) video delivery solutions, announced today that the company has secured an additional $3.2 million in funding, bringing the company's total financing to $6 million. Contributions in this round came from premier international firms including Partech Ventures, Techstars Venture Capital Fund, Verizon Ventures and R/GA.

Founded in early 2014, Streamroot developed the first webRTC-based peer-to-peer delivery technology for online video publishers and has quickly risen to become the frontrunner in distributed OTT delivery solutions.

"Traditional server-based content delivery (CDN) is no longer adapted to colossal worldwide audiences and the demand for ever higher definition," explains Streamroot Co-founder and CEO Pierre-Louis Theron. "Streamroot, meanwhile, scales naturally to audiences anywhere of any size. Using intelligent mesh networks and dynamic multi-sourcing of content, we offer both a more reliable and cost effective solution for broadcasters, and heightened quality for users."

Since its seed round of funding, Streamroot has multiplied the traffic managed on its platform by 500, and now powers over 400 million video sessions every month. The company's revolutionary approach has drawn widespread industry recognition and brisk adoption from high-profile media groups including Dailymotion, Canal+, Eurosport (part of the Discovery Communications group), and Russia Today. Streamroot has also become the first solution of its kind to offer cross-device compatibility across desktop, mobile and a range of set-top boxes.

"Today we are proud to be powering some of the world's largest live and VOD streaming platforms, delivering 50 to 80% of customers' traffic through our distributed delivery infrastructure," Theron adds.

For Dailymotion, a customer since 2016, Streamroot is a crucial component of the service's delivery infrastructure: "Ensuring robust video delivery to millions of users is of paramount importance to Dailymotion," says Pierre-Yves Kerembellec, VP Architecture. "Streamroot offers us this possibility. Their technology scales naturally to exploding audiences and to unpredictable traffic spikes, whilst at the same time keeping our delivery costs down and ensuring excellent quality."

The fast-growing startup has won new support from leading technology and venture firms. Techstars Venture Capital Fund invested in the startup, along with Verizon Ventures and R/GA, which contributed via their newly founded Media Tech Venture Studio.

In addition, Streamroot drew continuing support from existing investor Partech Ventures. "Streamroot has become an indisputable force in its industry," explains Romain Lavault, General Partner at Partech Ventures in Paris. "The company is well on its way to revolutionizing how video is delivered over the internet; we firmly stand behind them in this pursuit."

Armed with fresh capital from global investors, Theron looks towards the future: "Streamroot has laid the groundwork to reshape OTT video delivery as we know it, and we are now working to build the largest and most reliable delivery infrastructure in the world without relying on a single server. These funds will allow us to accelerate our development and tackle the monumental challenge of bringing TV-grade quality to billions of viewers across the world."

About Streamroot

Streamroot is a leading provider of innovative OTT video optimization technologies for content publishers, network service providers and enterprise customers. Its robust, reliable and lightweight distributed network architecture offers improved quality of service, global reach and unique fixed-fee economics. Streamroot technologies are based on open standards such as WebRTC, Media Source Extensions and HTML5, and are widely adopted by broadcasters around the world. Founded in 2013 in France, the company today benefits from VC funding and serves premier media groups from its Paris and New York offices.

For more information, visit www.streamroot.io.

Streamroot Press Contact

Erica Beavers 
Head of Partnerships & Marketing 
erica@streamroot.io

 

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SOURCE Streamroot, Inc.

WuXi NextCODE Completes $240 Million Series B Financing

Investment from leading technology and healthcare investors will accelerate the growth of the global platform for genomic dataThe global platform aims to empower institutions and individuals to realize the full value of their genomic data - to benefit human health and contribute to advancing precision medicine

SHANGHAI and CAMBRIDGE, Mass. and REYKJAVIK, Iceland, Sept. 7, 2017 /PRNewswire/ -- WuXi NextCODE, the global platform for genomic data, today announced the successful completion of a $240 million Series B financing.

The company extended and completed the Series B round with investment from a consortium led by Sequoia China and including Temasek, Yunfeng Capital and 3W Partners. Temasek, Yunfeng and 3W also participated in the initial Series B round in May alongside Amgen Ventures and other existing long-term investors and partners.  China Renaissance Group is the sole financial advisor to WuXi NextCODE in the latest financing round.

"The success of this financing round, which includes some of the top technology and healthcare investors worldwide, underscores the breadth and depth of confidence in our vision: to serve as the global platform for using genome data to advance global health," said Hannes Smarason, CEO of WuXi NextCODE. "We have the unique expertise and now the resources to execute on this strategy. We plan to continue to push the leading edge of technology for digitizing, managing and analyzing genomic big data, including through our pathbreaking AI, and to put it at the service of ever more enterprises, institutions, and individuals around the world."

"Genomics is an intrinsically global big data opportunity of unprecedented scale, and with breakthroughs in artificial intelligence, there will be explosive growth opportunities in the field of precision medicine," said Neil Shen, founding and managing partner of Sequoia China. "Sequoia China attaches great importance to investment in genomics and precision medicine. In leading WuXi NextCODE's latest financing round, Sequoia China is able to support the company to build out a standard platform to efficiently turn sequence data into benefits for people worldwide. This is truly where healthcare and technology meet."

"Our mission is to enable anyone to use the genome so that everyone can benefit from it," said Dr. Ge Li, chairman of WuXi NextCODE and founder and chairman of WuXi AppTec. "That is why we are building the global platform for genomic data and why we so pleased to have attracted such a stellar group of investors who not only share our vision but are uniquely positioned to support our growth. Only a platform with millions of genomes can provide the network effect and knowledge base that enable everyone to derive greater benefit, continually attracting more users, more data, and delivering ever more powerful health insights to serve people and patients everywhere."

WuXi NextCODE is using the proceeds from this round to accelerate the extension of its platform infrastructure and to bring new users and data onboard through precision medicine and diagnostics partnerships; the commercialization of its consumer solutions for the China market; and ultimately by enabling individuals to take charge of their own genomic data and deploy it to advance health and healthcare.

About WuXi NextCODE 
WuXi NextCODE is a fully integrated contract genomics organization (CGO) building the global standard platform for genomic data. With offices in Shanghai; Kendall Square in Cambridge, Massachusetts; and Reykjavik, Iceland, we serve the leading population genomics, precision medicine, diagnostics and wellness initiatives and enterprises using the genome to improve health around the world. Our capabilities span study design, sequencing, secondary analysis, storage, interpretation, scalable analytics, and AI and deep learning  – all backed by the most proven and widely used technology for organizing, mining and sharing genome sequence data. We are also applying the same capabilities to advance a growing range of sequence-based tests and scans in China. WuXi NextCODE is a WuXi Group company. Visit us on the web at wuxinextcode.com.

Contact:


Edward Farmer, PhD

JiaWei Wang

efarmer@wuxinextcode.com 

 jw_wang@wuxinextcode.com

+1 781-775-6206

+86 21 5046 5558

 

 

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SOURCE WuXi NextCODE

Data Genomix Announces Series A Funding

CLEVELAND, Sept. 6, 2017 /PRNewswire/ -- Data Genomix announced its Series A funding round led by Edward Crawford and Zanite Ventures, a Cleveland, Ohio-based early stage venture capital firm whose investors include Steven Rosen. This is the first venture capital round for Data Genomix, a marketing technology startup that brings leading-edge targeting, analytics, and machine learning to industries such as the online recruiting vertical. Data Genomix's recruiting software-as-a-service, anglr, will be launching fourth quarter of 2017 with an initial focus on recruiting healthcare professionals.

"When your organization needs to hire hard-to-reach healthcare professionals, it's easy to get lost in the ocean of the nearly 2 billion online job-seekers," said Nick Martin, Data Genomix CEO. "Fortunately, our tools net you exactly the right talent for your team." 

When combined with existing revenues, this funding gives Data Genomix sufficient capital to modernize verticals already benefiting from their targeting and recruiting tools.

"Data Genomix is one of the best kept secrets in the marketing technology industry. With its explosive growth, strong IP strategy, and long-term vision, Data Genomix is very well positioned to make an impact in the new, socially-driven targeted marketing and recruiting markets," said Zanite investor Steven Rosen. "The team at Zanite Ventures liked Data Genomix from the very beginning and is proud to lead Data Genomix's Series A funding round. In addition to effective digital marketing, the analysts at Zanite believe Data Genomix in the not so distant future will transform the largely passive recruiting space and to me that is very exciting."

Data Genomix was founded in 2016 and is post-revenue with strong multi-vertical prospects. Headquartered in Cleveland, Ohio, Data Genomix has hired forward-looking targeting and analytics expert, Nick Martin, to lead the company as CEO. Co-Founder Geoff Loree, who held senior executive positions in the recruiting software industry in Silicon Valley and the Vice Chairman's office of Heidrick & Struggles, will round out the Board of Directors for Data Genomix with Steven Rosen.

About Data Genomix
Data Genomix is a Cleveland, Ohio-based marketing technology startup that brings leading-edge targeting, analytics, and machine learning to industries such as the online recruiting vertical. Data Genomix's recruiting software-as-a-service, anglr, will be launching fourth quarter of 2017 with an initial focus on recruiting healthcare professionals.

About Zanite Ventures
Zanite Ventures is a Cleveland, Ohio-based venture capital firm focused on early stage investments in technology, software, healthcare technology, medical device, IoT internet of things, robotics and AI artificial intelligence. Representative experience includes Midwest based investments in Data Genomix (marketing technology), ApplyBoard (education), Robots and Pencils (IT services), Convelo (stem cell biotech), Cardinal Commerce (acquired by Visa), HET Healthcare (acquired by Covidian), Luminar Surgical (acquired by Boston Scientific), and Management Reports Inc. (acquired by Intuit). 

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SOURCE Data Genomix

Ranch Creek Partners and Hillstar Capital Make Equity Investment in OneCor Services, LLC

Additional Capital Enables OneCor to Accelerate Growth and Expand into New Markets

SEATTLE, Sept. 6, 2017 /PRNewswire/ -- Ranch Creek Partners, LLC, in partnership with Dallas-based Hillstar Capital, today announced an equity investment in Williston, North Dakota-based OneCor Services, LLC, a provider of environmental services (Jerry's Services) and acid blending to the oil and gas industry in the Bakken Shale.  Additionally, True West Capital Partners provided both debt and equity capital for the investment in OneCor.  The investments enable OneCor to accelerate growth while continuing to provide the same outstanding customer service. OneCor will continue to be led by long-serving CEO, Ricky Waitman, and General Manager, Tom Bachmeier.

"OneCor and Jerry's Services are trusted names in the Bakken oil and gas industry," said J.D. Kritser, founder and managing partner of Ranch Creek and Chairman of the Board of OneCor. "This investment allows us to grow the business to keep pace with our customers and fulfill management's vision to expand  geographically and augment our portfolio of other services to our customers."

OneCor Services is the largest provider of acid blending and logistics services in North Dakota, focusing on providing exceptional customer service and reliable, high quality product on a 24/7 basis.  Jerry's Services, a subsidiary of OneCor Services, helps its customers comply with state and federal environmental regulations as the largest provider of weed control and environmental services in the region.

"The current executive team has provided outstanding leadership and will continue to offer a wealth of experience, while our capital will enable OneCor to accelerate growth and expand into new markets," said Adam Stern, partner of Hillstar Capital.

"For over 40 years, we have strived to always put the customer first and deliver world-class service quality at a fair price," said Waitman. "This expansion solidifies our commitment to producers and service companies here in the Bakken to help them meet America's growing energy needs."

About Ranch Creek Partners
Based in Seattle, Ranch Creek Partners is private equity investment firm targeting control positions in middle market companies. Ranch Creek takes a long-term approach to value creation and seeks superior financial results by partnering with founders, world class managers and industry leaders to grow portfolio companies over time, whether organically, through acquisitions or a combination of both.   www.ranchcreekllc.com.

About Hillstar Capital
Hillstar Capital is a Dallas-based investment firm focused on lower middle market companies and partnering with owners and management teams to accelerate growth through both organic and acquisition opportunities. Hillstar supports our companies with capital, strong financial and operational expertise, and a growing network of resources. Hillstar has made an aggregate investment value in excess of $1 billion with over 40 years of combined experience.  www.hillstarcapital.com.

About True West Capital Partners
True West Capital Partners is a West Coast-based investment firm that provides flexible and creative growth capital to middle-market companies in the Western U.S. True West Capital Partners typically makes investments from $5 to $25 million in businesses with proven management teams, strong barriers to entry, sustainable competitive advantages, and high free cash flows. www.truewestcp.com.

About OneCor Services, LLC
Operating for over 40 years, OneCor Services is the market leader in environmental services and acid blending in North Dakota.  Operating as Jerry's Services, OneCor is the market leader in selective and bare ground weed control services, as well as environmental remediation services in North Dakota. OneCor is also the premier provider of blended acid for the completion, stimulation and workover of oil and gas wells in the Bakken Shale.  www.jerrysservices.com.

 

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SOURCE Ranch Creek Partners, LLC

Guild Raises $21 Million to Transform Corporate Tuition Assistance and Increase College Access for Frontline Employees

Guild's education benefits platform helps leading employers align tuition assistance with corporate talent & recruitment strategies; expands access to higher education to millions of frontline workers

DENVER, Sept. 6, 2017 /PRNewswire/ -- Guild, the leading education benefits company, today announced that it has closed a $21 million Series B financing round led by Bessemer Ventures, investors in HR, education and cloud standouts including LinkedIn, Skype, 2U, Instructure, Box, Twilio and SendGrid. The most recent investment brings Guild's total funding to $31.5 million, ranks Guild as one of the most significant investments in a female-funded company this year. Redpoint Ventures, Harrison Metal, and Cowboy Ventures also joined the financing round.

Since launching in 2015, Guild has partnered with a diverse set of employers -- including Chipotle, DaVita, Kentucky Fried Chicken, and the Denver Public Schools -- to transform corporate tuition assistance and increase college access for working adults.  "As the labor market tightens, employers are investing over $22 billion annually in traditional tuition assistance programs," said Rachel Carlson, co-founder and CEO of Guild Education. "Our platform empowers employers to make smarter education investments and measure the positive return on investments in their workforce - it's 'Education as a Benefit.'"

Guild's platform is designed to make going back to school easier for all employees. By enabling employees to earn college credit for on-the-job training, Guild creates pathways from management training or GED programs into degree granting programs at nonprofit universities that enable professional and economic mobility. Additionally, Guild's deferred tuition model eliminates the financial barriers of traditional tuition reimbursement programs. Guild works directly with employers to cover tuition costs, rather than expecting frontline employees to front the bill while they wait for reimbursement.  

Guild's universities are expanding their impact through Guild's network. "Guild has brought together a network of leading employers and innovative, nonprofit universities dedicated to advancing the education and career goals of working adults across America," said Gary Brahm, Chancellor of Brandman University. "This model provides employees the flexibility they need to select an institution that best serves their learning style vs. a 'one-size-fits-all' approach. And, through Guild, Brandman benefits from the opportunity to serve a broader, national group of students."

"In defining the education benefits space, Guild is pioneering a massive, new category of benefits for Fortune 1000 employers that reflects the changing world of work, and the rapidly evolving relationship between businesses and their employees," said Byron Deeter of Bessemer Venture Partners who will join Guild's board. "Employees value, above all, economic opportunity and career development. Guild's unique approach is enabling HR and L&D leaders to translate meaningful investments in people into measurable and significant business outcomes."

Guild's platform allows companies to easily run their education benefits program and track outcomes data -- including recruitment, retention, and promotion -- to measure the return on educational benefits. Last week, Chipotle released data finding that employees who enrolled in education programs were nearly 2x as likely to retain with the company after nine months, with 89% retention rates. These employees were also more than twice as likely to receive a promotion compared to their peers. Across the board, Guild's employers are now seeing the positive ROI of investing in their employees' education.

"At Chipotle, our people are the vital component to our long term strategic success. Expanding our employees' skills base and helping them reach their educational aspirations is an essential component of that strategy," said Sam Worobec, Director of Training at Chipotle. "Guild's unique approach to education benefits has not only allowed us to carry out that mission, but also led to meaningful gains in employee retention, promotion and satisfaction."

ABOUT GUILD EDUCATION
Guild Education is transforming the way employers offer Education as a Benefit to their employees. Guild's technology makes offering education benefits and tuition reimbursement an easy choice for leading companies, with a platform that helps HR leaders turn their education cost centers into a positive ROI. Guild's diverse network of online, nonprofit universities offers a range of programs from GEDs through bachelor's and master's degrees, along with advising and retention coaching to help each student navigate the worlds of work and college. To learn more about Guild, visit www.GuildEducation.com

 

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SOURCE Guild Education

Guild Raises $21 Million to Transform Corporate Tuition Assistance and Increase College Access for Frontline Employees

Guild's education benefits platform helps leading employers align tuition assistance with corporate talent & recruitment strategies; expands access to higher education to millions of frontline workers

DENVER, Sept. 6, 2017 /PRNewswire/ -- Guild, the leading education benefits company, today announced that it has closed a $21 million Series B financing round led by Bessemer Ventures, investors in HR, education and cloud standouts including LinkedIn, Skype, 2U, Instructure, Box, Twilio and SendGrid. The most recent investment brings Guild's total funding to $31.5 million, ranks Guild as one of the most significant investments in a female-funded company this year. Redpoint Ventures, Harrison Metal, and Cowboy Ventures also joined the financing round.

Since launching in 2015, Guild has partnered with a diverse set of employers -- including Chipotle, DaVita, Kentucky Fried Chicken, and the Denver Public Schools -- to transform corporate tuition assistance and increase college access for working adults.  "As the labor market tightens, employers are investing over $22 billion annually in traditional tuition assistance programs," said Rachel Carlson, co-founder and CEO of Guild Education. "Our platform empowers employers to make smarter education investments and measure the positive return on investments in their workforce - it's 'Education as a Benefit.'"

Guild's platform is designed to make going back to school easier for all employees. By enabling employees to earn college credit for on-the-job training, Guild creates pathways from management training or GED programs into degree granting programs at nonprofit universities that enable professional and economic mobility. Additionally, Guild's deferred tuition model eliminates the financial barriers of traditional tuition reimbursement programs. Guild works directly with employers to cover tuition costs, rather than expecting frontline employees to front the bill while they wait for reimbursement.  

Guild's universities are expanding their impact through Guild's network. "Guild has brought together a network of leading employers and innovative, nonprofit universities dedicated to advancing the education and career goals of working adults across America," said Gary Brahm, Chancellor of Brandman University. "This model provides employees the flexibility they need to select an institution that best serves their learning style vs. a 'one-size-fits-all' approach. And, through Guild, Brandman benefits from the opportunity to serve a broader, national group of students."

"In defining the education benefits space, Guild is pioneering a massive, new category of benefits for Fortune 1000 employers that reflects the changing world of work, and the rapidly evolving relationship between businesses and their employees," said Byron Deeter of Bessemer Venture Partners who will join Guild's board. "Employees value, above all, economic opportunity and career development. Guild's unique approach is enabling HR and L&D leaders to translate meaningful investments in people into measurable and significant business outcomes."

Guild's platform allows companies to easily run their education benefits program and track outcomes data -- including recruitment, retention, and promotion -- to measure the return on educational benefits. Last week, Chipotle released data finding that employees who enrolled in education programs were nearly 2x as likely to retain with the company after nine months, with 89% retention rates. These employees were also more than twice as likely to receive a promotion compared to their peers. Across the board, Guild's employers are now seeing the positive ROI of investing in their employees' education.

"At Chipotle, our people are the vital component to our long term strategic success. Expanding our employees' skills base and helping them reach their educational aspirations is an essential component of that strategy," said Sam Worobec, Director of Training at Chipotle. "Guild's unique approach to education benefits has not only allowed us to carry out that mission, but also led to meaningful gains in employee retention, promotion and satisfaction."

ABOUT GUILD EDUCATION
Guild Education is transforming the way employers offer Education as a Benefit to their employees. Guild's technology makes offering education benefits and tuition reimbursement an easy choice for leading companies, with a platform that helps HR leaders turn their education cost centers into a positive ROI. Guild's diverse network of online, nonprofit universities offers a range of programs from GEDs through bachelor's and master's degrees, along with advising and retention coaching to help each student navigate the worlds of work and college. To learn more about Guild, visit www.GuildEducation.com

 

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SOURCE Guild Education

Guild Raises $21 Million to Transform Corporate Tuition Assistance and Increase College Access for Frontline Employees

Guild's education benefits platform helps leading employers align tuition assistance with corporate talent & recruitment strategies; expands access to higher education to millions of frontline workers

DENVER, Sept. 6, 2017 /PRNewswire/ -- Guild, the leading education benefits company, today announced that it has closed a $21 million Series B financing round led by Bessemer Ventures, investors in HR, education and cloud standouts including LinkedIn, Skype, 2U, Instructure, Box, Twilio and SendGrid. The most recent investment brings Guild's total funding to $31.5 million, ranks Guild as one of the most significant investments in a female-funded company this year. Redpoint Ventures, Harrison Metal, and Cowboy Ventures also joined the financing round.

Since launching in 2015, Guild has partnered with a diverse set of employers -- including Chipotle, DaVita, Kentucky Fried Chicken, and the Denver Public Schools -- to transform corporate tuition assistance and increase college access for working adults.  "As the labor market tightens, employers are investing over $22 billion annually in traditional tuition assistance programs," said Rachel Carlson, co-founder and CEO of Guild Education. "Our platform empowers employers to make smarter education investments and measure the positive return on investments in their workforce - it's 'Education as a Benefit.'"

Guild's platform is designed to make going back to school easier for all employees. By enabling employees to earn college credit for on-the-job training, Guild creates pathways from management training or GED programs into degree granting programs at nonprofit universities that enable professional and economic mobility. Additionally, Guild's deferred tuition model eliminates the financial barriers of traditional tuition reimbursement programs. Guild works directly with employers to cover tuition costs, rather than expecting frontline employees to front the bill while they wait for reimbursement.  

Guild's universities are expanding their impact through Guild's network. "Guild has brought together a network of leading employers and innovative, nonprofit universities dedicated to advancing the education and career goals of working adults across America," said Gary Brahm, Chancellor of Brandman University. "This model provides employees the flexibility they need to select an institution that best serves their learning style vs. a 'one-size-fits-all' approach. And, through Guild, Brandman benefits from the opportunity to serve a broader, national group of students."

"In defining the education benefits space, Guild is pioneering a massive, new category of benefits for Fortune 1000 employers that reflects the changing world of work, and the rapidly evolving relationship between businesses and their employees," said Byron Deeter of Bessemer Venture Partners who will join Guild's board. "Employees value, above all, economic opportunity and career development. Guild's unique approach is enabling HR and L&D leaders to translate meaningful investments in people into measurable and significant business outcomes."

Guild's platform allows companies to easily run their education benefits program and track outcomes data -- including recruitment, retention, and promotion -- to measure the return on educational benefits. Last week, Chipotle released data finding that employees who enrolled in education programs were nearly 2x as likely to retain with the company after nine months, with 89% retention rates. These employees were also more than twice as likely to receive a promotion compared to their peers. Across the board, Guild's employers are now seeing the positive ROI of investing in their employees' education.

"At Chipotle, our people are the vital component to our long term strategic success. Expanding our employees' skills base and helping them reach their educational aspirations is an essential component of that strategy," said Sam Worobec, Director of Training at Chipotle. "Guild's unique approach to education benefits has not only allowed us to carry out that mission, but also led to meaningful gains in employee retention, promotion and satisfaction."

ABOUT GUILD EDUCATION
Guild Education is transforming the way employers offer Education as a Benefit to their employees. Guild's technology makes offering education benefits and tuition reimbursement an easy choice for leading companies, with a platform that helps HR leaders turn their education cost centers into a positive ROI. Guild's diverse network of online, nonprofit universities offers a range of programs from GEDs through bachelor's and master's degrees, along with advising and retention coaching to help each student navigate the worlds of work and college. To learn more about Guild, visit www.GuildEducation.com

 

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SOURCE Guild Education

Dataiku raises a 21.5 Million Pound Series B round to Help Democratise Data Science and Analytics across Organizations

Led by Battery Ventures and supported again by FirstMark, Serena Capital and Alven Capital, the company will continue to empower analysts, data scientists, data engineers, and managers to collaborate and effectively create data science products that yield business impacting insights. 

LONDON, Sept. 6, 2017 /PRNewswire/ -- Dataiku Inc., the maker of Dataiku Data Science Studio (DSS) - one of industry's leading enterprise, end-to-end advanced analytics and collaborative data science tools - has today announced a 21.5 million pound series B funding round led by Battery Ventures and supported by FirstMark, Serena Capital and Alven. Coming off of strong growth in the UK so far in 2017, which included being named "Enterprise Startup of the Year" at the Techies 2017 in London, Dataiku plans to triple their team in their London office and announce new major partnerships in the UK over the upcoming months. 

"Since first opening the doors of our London office, we have seen our technology and company passion for data catch on and build incredible momentum in the UK," said Jennifer Roubaud, VP of UK and Ireland for Dataiku. "It's an exciting time in the UK as organisations are innovating to become data-driven while also driving big data technology globally and we are honoured to be a part of it."

Founded in Paris in 2014, Dataiku comes at a time when there is an incredible growing demand to maximize in-house data production and analysis. The Dataiku platform combines cutting-edge data science and machine learning technologies with collaborative features that allow anyone in an organization to contribute to the data science production process. By effectively 'democratising data science' it enables each team member, from coders to analysts, to contribute to the data production and analysis process using the tools they know best. 

Today, hundreds of companies around the world, from Fortune 500's to SMB's, including L'Oreal, NPR, AXA, Kuka, HostelWorld and many others, use Dataiku on a daily basis to create, build, and deliver data products efficiently. 

"The UK has been, and will continue to be, a very important part of Dataiku. Over the coming year we plan to further invest into the UK by building strong partnerships and hiring incredible UK candidates in our London and European offices."

With this latest funding round, Dataiku plans to triple the size of their team in London and announce major partnerships in the UK in the upcoming months. As the company consistently strives to build a stimulating work environment where learning, working, and playing collide, it hopes to attract curious people that want to discover, learn, and have a lasting impact on the UK and global data ecosystem. 

Earlier this year, Dataiku was named a "Visionary" in Gartner's 2017 Magic Quadrant for Data Science Platforms. Dataiku previously raised an 11.5 million pound series A round, led by FirstMark Capital in October of 2016.

To learn more visit: www.dataiku.com