CareZone pockets $50 mln Series D

CareZone, a smartphone service for managing chronic health conditions, has raised $50 million in Series D funding. NEA led the round. PRESS RELEASE May 23, 2018 [San Francisco, Calif.] — Today CareZone, the leading smartphone service for managing chronic health conditions, announced it secured an additional $50 million in Series D financing, bringing its total financing to $150 million. The CareZone app is now able to scan medications from every pharmacy in the nation (including Walgreens, Rite-Aid, CVS, Kroger and Walmart) to automate consumer data entry; connect scanned medication lists to free medication pill packeting and home delivery services; automate Medicare insurance analysis to help consumers lower copays; and provide a selection of subscription vitamin and supplement offerings to meet non-clinical and over-the-counter care needs. Founded in 2012, CareZone helps individuals, families, and caregivers manage chronic health conditions. The company makes it easy to manage multiple medications, automate
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Wednesday links: an oil analogy

Sentry raises $16 mln led by NEA, Accel

San Francisco-based Sentry, provider of APM for developers, announced it has raised $16 million in a Series B round of funding led by existing investors New Enterprise Associates and Accel. The company, founded in 2008, has now raised $26.5 million in total funding. Source: Company press release

Aquiline buys RIA in a Box

Aquiline Capital Partners LLC has acquired RIA in a Box LLC, a software-as-a-service provider of compliance solutions for the registered investment adviser sector. No financial terms were disclosed. Marlin & Associates advised Aquiline while Raymond James & Associates advised RIA in a Box. PRESS RELEASE NEW YORK–(BUSINESS WIRE)– May 23, 2018—Aquiline Capital Partners LLC, a New York-based private equity firm investing in financial services and technology, announced today that it has acquired RIA in a Box LLC, the leading software as a service (“SaaS”) provider of compliance solutions to the registered investment adviser (“RIA”) industry. No financial terms were disclosed. In a complex and evolving regulatory environment, RIA in a Box provides compliance workflow solutions to wealth managers. The company assists with initial RIA registration, provides ongoing compliance software post-formation, and helps compliance officers at larger firms to oversee more complex organizations. The company also offers other SaaS-based services
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Hg and ICG invest in IRIS

Hg Saturn Fund and Intermediate Capital Group have made an investment in IRIS, a provider of software and services for the UK accounting, education and business market. No financial terms were disclosed. DC Advisory, Linklaters and OC&C advised Hg Saturn on the deal while Arma Partners, Skadden, Deloitte and Bain & Co advised IRIS. PRESS RELEASE 23 May 2018 – Hg Saturn Fund and Intermediate Capital Group announce today a joint partnership investment into IRIS, a leading provider of business-critical software and services to the UK accountancy, education and business market, representing the largest UK and third largest European private equity software buyout ever. The terms of the transaction are not disclosed and closing is subject to regulatory approvals. Over 21,000 accountancy practices and more than 80,000 small and mid-sized businesses, corporates, and payroll bureaus rely on IRIS to run their business every day. IRIS exhibits a number of
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Superpedestrian attracts $16.5 mln

Cambridge, Massachusetts-based Superpedestrian, a transportation robotics company, has closed $16.5 million in financing. The investors included Charles Kim of Extol Capital LLC, Spark Capital and General Catalyst. Source: Press Release

Tech Today: Tesla’s Brakes, Amazon’s AI, Hewlett’s Cash Flow

Hewlett Packard shares drop as free cash flow comes up short, Amazon's providing face-recognition software to law enforcement criticized by civil rights groups, Xilinx's analyst day cheers bulls but fails to prop up the stock, Tesla criticism in Consumer Reports is a little like the magazine's negative early review of the first iPhone according to long-time Apple watcher Gene Munster.

Madison Dearborn to buy Sirva from Aurora Resurgence and EGI

Madison Dearborn Equity Partners has agreed to acquire Illinois-based Sirva, a global relocation and moving service provider. The sellers are Aurora Resurgence and Equity Group Investments. No financial terms were disclosed. Goldman Sachs was financial adviser to Sirva with Weil, Gotshal & Manges LLP acting as legal adviser. And, Kirkland & Ellis LLP provided legal advice to MDP. PRESS RELEASE SIRVA, Inc., a leading global relocation and moving service provider, today announced that it has reached an agreement to be acquired by Madison Dearborn Partners (MDP), a leading private equity firm based in Chicago with significant experience investing in and growing industrial and technology services companies. SIRVA, which has been owned by Aurora Resurgence and Equity Group Investments (EGI) since 2008, today has 55 office locations, 620 Agent locations and 2,600+ employees operating in 170 countries and plans to leverage MDP’s investment and industry expertise to expand
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Anthem to acquire VC-backed Aspire Health

Health insurance provider Anthem Inc has agreed to acquire Aspire Health, a non-hospice palliative care provider. No financial terms were disclosed. The deal is expected to close in the third quarter of this year. Aspire’s investors include Oak HC/FT, GV, BlueCross BlueShield Venture Partners and Sandbox Industries. PRESS RELEASE INDIANAPOLIS–(BUSINESS WIRE)–Anthem, Inc. (NYSE:ANTM) today announced that the company has entered into an agreement to acquire Aspire Health, the nation’s largest non-hospice, community-based palliative care provider. “Anthem is focused on enhancing our ability to offer innovative, integrated clinical care models that can improve the quality of healthcare and deliver better outcomes,” said Gail K. Boudreaux, President and CEO, Anthem. “Aspire Health shares our perspective on the increasingly important role of integrated care and has built a unique model that provides palliative care and support services for patients and their families. With the addition of Aspire Health to Anthem’s other clinical
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OM1 reels in $21 mln Series B

OM1, a health outcomes and technology company, has secured $21 million in Series B financing. Polaris Partners led the round with participation from backers that included General Catalyst and 7wire Ventures. Source: Press Release


Personal finance links: personal finance superpowers

Pivot Power Plans Massive UK Supercharger Network Paired With 2 Gigawatts of Batteries

Batteries could play a key role in helping to roll out an electric vehicle supercharger network across the U.K., according to a company called Pivot Power.

The firm, which describes itself as a special-purpose venture formed between energy storage project developer Become Energy and renewables investment company Downing, hopes to install the world’s biggest battery network.

It plans to deploy forty-five 50-megawatt batteries at substations close to major auto routes across the U.K. Each battery would make money from grid services and energy trading. 

Crucially, though, the cost of adapting each substation for battery storage would also allow it to be used for EV charging.

By connecting rapid charging stations directly to the high-voltage transmission network, Pivot Power intends to gain access to up to 20 megawatts of cheap power per site. This would grant it efficiencies that would be hard to attain via regional distribution <div class="post-limited-image"><img src="" border="0"></div>
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Cocktail app Hooch picks up $5 mln

Hooch, a subscription cocktail app, has raised $5 million in funding. Revellis Capital Group and Blue Scorpion Investments led the round with participation from Access Industries Holdings, Warner Music Group and FJ Labs. Source: Press Release