I’m less than a month into VC and unraveling from more than a decade operating in startups and enterprise, my most recent years spent as a senior executive managing global CX teams, thousands of customers, M&amp;A, and reporting within two PE firms. I’m currently straddling a strange limbo of what feels like an outsider to both VC and Ops. Do I still wear a modest, collared button-up and slacks? No. When do I speak up or shut up? Striking this balance will be my life’s work. Am I bringing enough value? I hear I won’t know the answer to this question for another 8–10 years. Great.I’ve had a lot of philosophical conversations with myself lately about&nbsp;<a href="https://www.amazon.com/Only-Paranoid-Survive-Exploit-Challenge/dp/0385483821" rel="noopener noreferrer" target="_blank" style="color: inherit;">Andrew Grove’s ‘Only the Paranoid Survive’.</a>&nbsp;But, this ain’t my first rodeo navigating change or cross-roads. In the past decade I went from being a single-mom living on welfare, in a one-bedroom apartment with my three girls sleeping on the floor next to my bed, to exiting my startup, receiving an issued patent, managing large-scale M&amp;A, growing tens of millions of dollars, and leading global enterprise teams (I also bought a house!). I know how to do everything from making payroll to building and managing scale. I understand the founder/operator perspective and I understand the hard work and humility that any good thing in life takes.&nbsp;This is the perspective I want to bring to VC.A few weeks back (before I started in VC and upon hearing that I was leaving my previous role) a friend and mentor,&nbsp;<a href="https://www.linkedin.com/in/davecblake/" rel="noopener noreferrer" target="_blank" style="color: inherit;">Dave Blake</a>, Founder and CEO of&nbsp;<a href="https://www.clientsuccess.com/" rel="noopener noreferrer" target="_blank" style="color: inherit;">ClientSuccess</a>, asked me to speak on a VC panel at the&nbsp;<a href="https://cs100.clientsuccess.com/" rel="noopener noreferrer" target="_blank" style="color: inherit;">CS100 Summit</a>&nbsp;hosted at Sundance, Utah. This is the mecca event for Chief Customer Officers and was the perfect way to blend my colliding worlds of founder/operator and VC!&nbsp;<a href="https://www.linkedin.com/in/jaynathan/" rel="noopener noreferrer" target="_blank" style="color: inherit;">Jay Nathan</a>&nbsp;moderated our panel on ‘Driving Impact in the Boardroom’ with me,&nbsp;<a href="https://www.linkedin.com/in/eugenejylee/" rel="noopener noreferrer" target="_blank" style="color: inherit;">Eugene Lee</a>&nbsp;of Omers Ventures, and K<a href="https://www.linkedin.com/in/koryknell/" rel="noopener noreferrer" target="_blank" style="color: inherit;">ory Knell</a>&nbsp;of RainFocus.*Editor’s note: all founders/CEOs should attend CS100 Summit, it’s a masterclass in building customer-centric organizations and it is invaluable to hear from folks like&nbsp;<a href="https://www.linkedin.com/in/sterling-snow-051baab5/" rel="noopener noreferrer" target="_blank" style="color: inherit;">Sterling Snow</a>, CRO of Divvy (also a Pelion portfolio company) who shared trade secrets that led to&nbsp;<a href="https://techcrunch.com/2021/05/06/why-did-bill-com-pay-2-5b-for-divvy/" rel="noopener noreferrer" target="_blank" style="color: inherit;">Divvy’s billion-dollar exit.</a>Whether you are a founder, exec or someone looking to grow in their career, knowing how to be an all-around badass in the boardroom is a good skill to sharpen. Here are my five takeaways from the event: <ol><li>Be brief. Be brilliant. Be gone.&nbsp;If you are speaking in any capacity to a board don’t make the mistake of 100-page pitch decks or lengthy diatribes of your knowledge, expertise, and justifications. If you are explaining you are losing. You have two jobs: demonstrate competence and build trust. The board is there to verify their assumptions and learn from the experts. Follow their lead and bring every point back to the story (i.e. known value props and insights) you prepared beforehand. Also, be honest.</li><li>Establish yourself as the expert.&nbsp;Many people make the mistake of thinking the board is the expert or giving the board too much power over them. Whether you are a one-person startup or an executive of a 150 person team, the board is looking to you for domain knowledge, role expertise and influence. They need you. Don’t be afraid to push back, ask clarifying questions and speak confidently to the vision, insights and what you know to be true. If you don’t know the answer be prepared to say, “I’d hate to speculate, let me get back to you on this.”</li><li>Understand the process of diligence.&nbsp;Whether you are going through investment/acquisition OR want to understand the POV of any board you go in front of, everyone should go through the exercise of diligence. You will understand your business better than ever. Remember, your job is to be the expert! Do a simple Google search and you will find material for your education.&nbsp;<a href="https://www.forbes.com/sites/allbusiness/2014/12/19/20-key-due-diligence-activities-in-a-merger-and-acquisition-transaction/?sh=4240ee4b4bfc" rel="noopener noreferrer" target="_blank" style="color: inherit;">This</a>&nbsp;article from Forbes is a good 100,000 ft view on diligence, and&nbsp;<a href="https://www.smartsheet.com/sites/default/files/IC-M-and-A-Buyer-Due-Diligence-Checklist-Template-10584_PDF.pdf" rel="noopener noreferrer" target="_blank" style="color: inherit;">this</a>&nbsp;Smartsheet’s checklist is a decent start. Additionally, take time to understand who you are pitching. Look up authored LinkedIn articles, company blog posts and personal websites. These are all data points you can leverage to craft your message.</li><li>D̶a̶t̶a̶,̶ ̶d̶a̶t̶a̶,̶ ̶d̶a̶t̶a̶!̶ Insights, insights, insights!&nbsp;Bring insights, don’t regurgitate data. Should you be able to regurgitate all the important business metrics and be able to show your work if asked? Absolutely. But, for in-person presentations your job is to synthesize data points to tell compelling stories. Bringing together the story of let’s say a global pandemic, increase in NRR, decrease in logo count and a product development pivot makes for a compelling story that helps the board understand holistic impact and then make educated and informed decisions. Always know your story.</li><li>Remember your personal brand, because the world is a small place.&nbsp;One of my biggest pet-peeves is when people put themselves down in front of others: “I’m so stupid, I can’t believe I missed that” or “I’m so sorry to have missed this.” Don’t apologize for existing. Be polished, be professional, be authentic! My mom once gave me the advice to ‘leave flowers wherever I go.’ Leaving flowers instead of bombs doesn’t mean you’re not assertive or bold, but it does mean that you haven’t burned a bridge. If there’s anything I’ve learned in life, it’s that you will need as many people in your corner as possible. People change, people grow up, people learn. Have integrity to yourself and your community when interacting with others, because the world is a small place and people talk.</li></ol> See full article at <a href="https://medium.com/@kristymuir/from-operator-to-vc-5-tips-on-how-to-pitch-or-present-like-a-badass-in-the-boardroom-8ecd08aac6bb#4449-37d3457976dc" rel="noopener noreferrer" target="_blank">https://medium.com/@kristymuir/from-operator-to-vc-5-tips-on-how-to-pitch-or-present-like-a-badass-in-the-boardroom-8ecd08aac6bb#4449-37d3457976dc</a>

From Operator to VC: 5 Tips on How To Pitch or Present Like a Badass in the Boardroom

LOS ANGELES, September 8, 2022&nbsp;– Open Raven – the data security posture management company helping enterprises prevent leaks, breaches, and compliance incidents – announced it raised $20M in Series B funding. The round was led by Pelion Ventures with participation from existing investors Kleiner Perkins and Upfront Ventures. This increases Open Raven’s total funding to date to $40M. Jeff Kearl, Partner at Pelion, joined Open Raven's Board of Directors along with Seksom Suriyapa from Upfront Ventures.&nbsp;"If you are a cloud-first company and your business depends on data, the first thing you should be doing is using Open Raven," said Jeff Kearl. "They have a level of visibility at scale and completeness that other platforms simply can't provide. Their execution keeps getting better and better across product expansion, customer acquisition, and retention.""Everything security teams are responsible for, from incident response and risk management to regulatory compliance, requires accurate and thorough cloud data intelligence," said Gary Miller, DVP of Information Security at TaskUs. "The understanding we get from Open Raven of our total data landscape in AWS helps us make better decisions about how to protect what is most important to our business."With the new funding, Open Raven is making additional investments in engineering, sales, and marketing to accelerate their roadmap and expand support for their increasing portfolio of large enterprises. Already, this month, Open Raven released new data intelligence capabilities including structured data classification and a new set of APIs for both pulling data and triggering scans. Also, earlier this year, Open Raven joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate Program to co-sell with AWS field sellers globally."I'm extremely proud of what our team has achieved in such a short amount of time. Our platform simply works," said Dave Cole, CEO of Open Raven. "We took head on and solved one of the biggest problems in security, specifically data classification at a massive scale that also satisfies budget and privacy sensibilities."For more information,&nbsp;<a href="http://www.openraven.com/blog/open-raven-at-3-new-customers-fresh-funding-and-an-expanded-platform" rel="noopener noreferrer" target="_blank" style="color: rgb(51, 51, 51); background-color: transparent;">read the blog post.</a> For full article visit <a href="https://www.openraven.com/press-releases/open-raven-raises-20m-in-series-b-from-pelion-ventures-kleiner-perkins-and-upfront-ventures." rel="noopener noreferrer" target="_blank">https://www.openraven.com/press-releases/open-raven-raises-20m-in-series-b-from-pelion-ventures-kleiner-perkins-and-upfront-ventures.</a> <h3>About Open Raven&nbsp;</h3>Open Raven is the data security posture management company that prevents leaks, breaches, and compliance incidents. For security teams with modern cloud infrastructures to locate and secure sensitive, toxic, and exposed data within hundreds or thousands of accounts, billions of objects, and petabytes of data, existing tools don’t work. The Open Raven Data Security Platform is the secure, private, budget-safe solution that closes data visibility gaps – and just works. Learn more at&nbsp;<a href="http://www.openraven.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(51, 51, 51); background-color: transparent;">openraven.com</a>&nbsp;or follow us&nbsp;<a href="http://www.twitter.com/openraven" rel="noopener noreferrer" target="_blank" style="color: rgb(51, 51, 51); background-color: transparent;">@openraven</a>.

Investment comes amid strong customer growth and significant expansion of its data security platform

Open Raven Raises $20M in Series B from Pelion Ventures, Kleiner Perkins, and Upfront Ventures 

<a href="https://www.denim.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(220, 161, 13);">Denim</a>, the fintech platform for freight and logistics formerly known as Axle Payments, today announced that it raised $126 million in a Series B funding round led by Pelion Venture Partners with participation from Crosslink Capital, Anthemis, Trucks VC, FJ Labs, Tribeca Early Stage Partners and Refashiond Ventures at a “nine-figure” valuation. CEO and co-founder Bharath Krishnamoorthy tells TechCrunch that the new cash, a combination of equity ($26 million) and debt ($100 million), will be put toward scaling the business and providing Denim’s customers with working capital. Krishnamoorthy and Denim’s other co-founder, Shawn Vo, had been friends for 16 years before they launched the company. Vo was in the credit risk department at Barclays and a full-stack developer at Fintria, a fintech company, while Krishnamoorthy was an associate at several law firms, including Gibson, Dunn &amp; Crutcher. “We witnessed a significant gap in the freight broker market, where legacy systems — i.e. paper checks, physical filing — were still in place, and developed an intuitive payments technology to help streamline broker operations and attract the best carrier relationships through the platform,” Krishnamoorthy told TechCrunch via email. To that end, Denim provides financial products, operations tools and automated workflows for freight brokers — the middlemen between shippers and carriers. The company handles broker invoicing, collections and payments, and in addition provides access to debt financing. “The industry has shown reluctance to abandon its legacy processes — many shippers still pay freight brokers on 30 to 60-day terms despite carriers expecting near-instantaneous payments. These longer time frames can create cash flow problems,” Krishnamoorthy added. Denim uses algorithms to reduce the amount of time its operations team spends evaluating the risk of invoices it purchases from brokers. For each shipment, these algorithms review 20 data points and either approve the purchase or flag that a manual review is required. Beyond this, the Denim platform integrates with accounting software like QuickBooks to allow brokers to share data between various existing systems. From a dashboard, users can see metrics like pending or completed jobs, total factored amounts, the most frequently used carriers and the fastest-paying customers. “This combination of automation, financial stability and accurate reporting enables&nbsp;freight&nbsp;brokers and their partners to navigate volatile shifts in the economy. And most importantly, it ensures the entire supply chain continues moving in the right direction,” Krishnamoorthy continued. “In our current economic environment, companies can’t afford to ignore back-end risks and slow processes.” Denim competes with other fintech firms in the space, including TriumphPay, HaulPay and OTR Capital. Curiously, Krishnamoorthy declined to say how many customers the company currently has or where its revenue stands. But he did volunteer that Denim has connected more than 7,000 freight brokers, shippers and carriers since its launch three years ago. “Despite the slowdown, Denim is uniquely positioned to continue scaling its platform and workforce. We’ve established a financial model based on healthy unit economics,” Krishnamoorthy said. “We’re bringing new solutions to market to give freight brokers the ability to seamlessly operate at full capacity and adapt to changes in the supply chain. And we’re hiring talent that not only aligns with our business goals but with our core values.” Denim has 100 full-time employees and plans to reach 120 by the end of the year, funded in part by the new equity. To date, the startup has raised a total of $165 million. For Tech Crunch article visit, https://techcrunch.com/2022/09/15/denim-a-fintech-platform-for-freight-brokers-raises-126m-in-equity-and-debt/.

Denim, a fintech platform for freight brokers, raises $126M in equity and debt

Traditional employment models are not flexible enough to meet the needs of the most in-demand executives. These seasoned practitioners want optionality and career development outside of traditional career development. Nolan Church (former Chief People Officer at Carta) and Greg White (former Head of DevOps at Carta) recognized this highly-skilled, in-demand group’s unmet needs and founded Continuum in August 2020 as a solution.&nbsp;<a href="https://www.joincontinuum.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 56, 145); background-color: transparent;">Continuum</a>&nbsp;is a fractional executive marketplace to connect seasoned industry professionals with venture capital-backed high-growth startups. The Salt Lake City, Utah-based startup raised a $12M Series A led by Pelion Ventures, with participation from Uncork Capital, Day One Ventures, and angel investors including (but not limited to) Blake Murray, Vivek Sodera, Matt Mickiewicz, Sander Daniels and Joseph Woodburry. Continuum has fifteen team members. The startup will use the Series A funds raised to invest in product development, with the goal to build an “executive storefront.” Continuums competitors are established, legacy executive search firms. Continuum CEO Church says, “We want to help executives drive business and automate their entire back-office. Eventually, startups will be able to click on an executive, book time with them, and start working with them almost immediately.” Frederick Daso: When did you first notice the demand for seasoned executives performing project-based work or consulting engagements instead of traditional employment? Nolan Church: I realized there was a gap in the market when I was Chief People Officer at Carta. I wanted access to consulting/advising/angel investing opportunities, but I didn’t have time to market myself to startups or network with VCs. I started wondering if other non-CEO execs were experiencing the same problem. It turns out that after talking to 1000+ execs, every exec we’ve talked to wants fractional deal flow. These execs are typically not hyper-active on social media, want their work to speak for itself, and need software to help them manage their back-office and operations. Daso: What are the critical issues with traditional employment models (e.g., W-2 employees) in today’s dynamic, inflationary economy? Church: Traditional executive recruiting is expensive (recruiters charge $100k-$150k+), slow (searches usually take 6-9 months+), and has a low success rate (most executives depart within 18 months of their start date). It was constant pain for me as a company operator and an exec looking for my next role. Working with a fractional exec is cheaper, immediate, and gives companies and execs the flexibility to trial each other before committing to a full-time relationship. Daso: Given the current dismal stock market performance and companies firing workers, how will Continuum play a role in ensuring layoffs are conducted in a fair, empathetic manner with the companies it chooses to partner with? Church: It’s extremely important for companies to optimize for humanity versus efficiency. Layoffs are terrible, but there is a way to do it where it can strengthen a company’s culture, morale, and reputation. We’re launching our layoff product to help startups during this difficult time. ​​For tech companies considering a layoff, Continuum is offering one free hour of advising with an HR executive who has run them before. For leadership teams needing more support, Continuum offers an HR executive to build a communications plan, run a DEI impact analysis to ensure underrepresented groups are not disproportionately impacted, and be available for general support. Daso: How has Continuum increased the supply and demand on its fractional executive marketplace by 20-fold? Church: Executive acquisition (supply) has organically grown through word of mouth. It’s the easiest thing we do. When we ask executives if they’re interested in consulting, advising or angel investing, it immediately sparks their interest. They get more excited when we then tell them that Continuum offers them access to the next generation of upcoming startups, runs their back office, and gives them a storefront to generate new business. Execs love the idea of not being owned by one company. They’re able to work with multiple startups simultaneously and have the flexibility to design their lives how they choose. On the demand side, startups often lack in-house expertise when issues arise and only have the option of running a lengthy and costly executive search. Continuum gives these startups on-demand access to top talent who can plugin at every stage/size to solve problems immediately. Sometimes, they’re working with Continuum executives while running a full-time employee search in parallel. We hear from many of our customers that it’s a no-brainer to work with fractional executives. Daso: What behaviors have you observed in Continuum’s marketplace that necessitate the development of future products with its company’s freshly-raised Series A funding? Church: There are three types of executive personas on Continuum. First is the curious executive, who has a full-time job today, joined Continuum to consult and advise for 4-5 hours a week. They often turn into our second executive persona (full-time fractional) when they fall in love with the work because of the flexibility to invest their expertise across a few different startups. Lastly, some execs go from fractional to full-time, essentially trying before they buy. No matter where on the continuum these executives are, they need a back office to support their consulting, advising and angel investing pursuits. We’re deploying the capital from our Series A to completely automate the executive back office, build the executive storefront, and give companies a portal to tap into world-class executive talent quickly. Daso: How can Continuum’s coaching program accelerate the growth and development of future world-class executives outside of their traditional roles? Church: The most effective form of learning is doing the job while learning from someone in similar shoes, who has successfully solved the problem you’re tackling and can help you see around corners. While it’s important to have mentors within a company, having a coach outside of your organization is also valuable to help you view problems from different perspectives, reach your goals, and learn firsthand.

Continuum Raises $12M To Build The Fractional Executive Marketplace

SALT LAKE CITY &amp; NEW YORK, JUNE 21, 2022&nbsp;–<a href="https://www.rivethealth.com/" rel="noopener noreferrer" target="_blank">&nbsp;</a><a href="https://www.rivethealth.com/" rel="noopener noreferrer" target="_blank" style="color: inherit;">Rivet</a>,&nbsp;the modern healthcare billing platform, raised&nbsp;$20.5 million in a Series B funding round led by growth equity firm&nbsp;<a href="http://www.catalyst.com/" rel="noopener noreferrer" target="_blank" style="color: inherit;">Catalyst Investors</a>&nbsp;with participation from co-investor Ankona Capital and existing investors Menlo Ventures, Pelion Venture Partners and Lux Capital. Tyler Newton, Partner with Catalyst Investors, will join Rivet’s Board of Directors. Founded in 2018, Rivet's revenue cycle operating platform is used by healthcare providers across the country to collect what they are owed from payers and bring greater price transparency to patients. Using Rivet, customers have modeled more than one billion payer contracted rates, created over 400,000 patient cost estimates, and detected denials and underpayments in over 100 million claims, reducing the administrative burden felt by providers while increasing their total income as well. “Medical payer contracts are often very complicated, resulting in reduced transparency from payer to provider to patient. Rivet deciphers contracts for providers so they can offer patients transparent pricing with our Estimates product while also ensuring proper insurance payments with our Underpayments and Denials products,” said Ted Ferrin, CEO and Co-Founder of Rivet. “Rivet shines light on some of the most complex but important data in all of healthcare so that providers, patients, and payers can all be on the same page and have a much more efficient financial experience.”&nbsp; “Rivet has a keen ability to identify pain points in the market, execute on a product vision, deliver a high-quality product and achieve product-market fit in rapid succession,” said Newton. “The team has a compelling blend of revenue cycle management, technology and sales experience that allows them to identify issues that have plagued the healthcare industry for decades and make great strides towards solving it. We look forward to working with the Rivet team to increase market penetration in the outpatient segment and expand into larger facilities, hospitals and health systems.”&nbsp; Rivet currently offers three software products: Patient Cost Estimates, Underpayment Detection Workflow and Denials Appeal Management. The company has historically focused exclusively on outpatient practices, offering a level of sophistication and automation typically reserved for larger health systems and inpatient facilities. Capital from the new funding round will be used to build out the Rivet team and continue investing in the platform, allowing the company to continue delivering unparalleled products to a market that is in dire need of innovation. About RivetRivet, based in&nbsp;Salt Lake City, UT, is dedicated to promoting transparency throughout the healthcare billing process, from payer to provider to patient. Rivet’s unique platform offers tools for Estimates, Underpayments and Denials, giving patients more transparency around the cost of care and providers the ability to hold payers accountable to their contracts. The company currently operates largely in outpatient facilities, but it aims to elevate the healthcare billing experience across all settings, regardless of size or specialty. About Catalyst InvestorsCatalyst Investors is a growth equity firm based in New York. The firm’s mission is to earn superior returns by helping entrepreneurs build great growth companies. Over the past 20 years, Catalyst has invested in rapidly-growing companies across the SaaS, tech enabled services and internet infrastructure sectors, and has established a successful track record of partnering with entrepreneurs and helping companies scale. Recent investments and exits include Pax8, LinkSquares, Ekos, Weave, Clinicient, ChowNow, EDB, and PresenceLearning. For more information, visit&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=2955371-1&amp;h=1753764514&amp;u=http://www.catalyst.com/&amp;a=www.catalyst.com" rel="noopener noreferrer" target="_blank" style="color: inherit;">www.catalyst.com</a>.

Modern healthcare billing platform provides greater transparency for patients and healthcare providers.

Rivet Raises $20.5 Million Series B Led by Catalyst Investors

<a href="https://www.lvt.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(37, 165, 224);">LiveView Technologies</a>&nbsp;(LVT), a manufacturer of intelligent safety and security ecosystems, raised a $50 million Series B. The round was led by&nbsp;<a href="https://www.sorensoncapital.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(37, 165, 224);">Sorenson Capital</a>&nbsp;(Lehi, Utah), with participation from new investor,&nbsp;<a href="https://www.lhmauto.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(37, 165, 224);">The Larry H. Miller Group</a>&nbsp;(Utah), with<a href="https://leadedge.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(37, 165, 224);">&nbsp;Lead Edge Capital</a>&nbsp;(New York) and&nbsp;<a href="https://pelionvp.com/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(37, 165, 224);">Pelion Venture Partners</a>&nbsp;(Cottonwood Heights, Utah), both returning investors. Rob Rueckert, Partner at Sorenson Capital, will join LVT’s board of directors.&nbsp; “LVT prevents crime and saves lives, period. You simply don’t get the opportunity to partner with a company like that very often,” says Rueckert in the LVT press release. “Their unique technologies are found on the properties of small retailers up to Fortune 100 companies, they are serious about 100% customer satisfaction, and they never stop innovating. You can see their direct impact across various industries, and we are excited to support LVT as they expand even further into the global market.” LVT plans to use funding to advance product research and development and to expand the company through recruiting technical, manufacturing, and business talent.&nbsp; “LVT’s mission is to make the entire world safer and more secure. While theft-related savings and real-time site awareness are a significant benefit for many of our customers, preventing violent crime and saving lives are the most important goals of our company, and at the forefront of everything we do,” says LVT Co-founder and CEO, Ryan Porter, in the LTV press release. “Our accelerated growth is a testament to the solutions we work tirelessly to provide, the value we place on forging strong partnerships with our customers every day, and the belief that we are realizing our mission one safer community at a time.” Based in Orem, LVT is both a SaaS and a PaaS (Platform-as-a-Service). The company offers deployable commercial security systems, powered by solar panels, that connect to a SaaS platform. The platform offers security solutions for remote live video, safety, surveillance, IoT, and analytics gathering processing, and delivery. LVT’s hardware is portable and customizable and only takes about 30 minutes to set up. Built with surveillance cameras, sensors, lights, and speakers, LVT’s security ecosystems are meant to ward off theft and deter crime. LVT currently has more than 6,000 security units in use that protect over 2.5 billion sq/ft around the globe. These security ecosystems have many uses and reduce crime up to 62%. LVT customers like the Kansas City Chiefs, Marathon Oil, and the City of Camden use its security systems to ensure public, employee, customer, and facility safety. Yellowstone Park uses LVT’s hardware to track weather and traffic patterns and one well-placed security ecosystem assisted the Miami Police Department in the&nbsp;<a href="https://www.cbsnews.com/miami/news/miami-police-arrest-suspected-serial-killer/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(37, 165, 224);">identification and arrest of a serial killer.</a>&nbsp; &nbsp;<a href="https://www.techbuzz.news/brandon-fugal-and-the-secret-of-skinwalker-ranch-on-the-history-channel/" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(37, 165, 224);">Skinwalker Ranch</a>&nbsp;uses LVT’s systems to track paranormal activity.&nbsp; “Skinwalker Ranch considers LiveView a key strategic partner,” says Brandon Fugal, owner of Skinwalker Ranch and Chairman of Colliers International, “We value the relationship with LiveView. Their security surveillance systems provide an ideal complement to our existing scientific monitoring and security platforms.” The company was founded in 2005 by Ryan Porter and has grown to over 200 employees. LTV’s recurring revenue has grown 133% in the last year, and averaged over 100% in the last five years.

LiveView Technologies Raises $50 Million Series B

Goldman Sachs Group Inc. led a consortium of banks that gave Deserve Inc. a credit facility,&nbsp;<a href="https://www.businesswire.com/news/home/20220511005760/en/Deserve-Secures-250M-Credit-Facility-from-Goldman-Sachs-Cross-River-and-Waterfall-Asset-Management" rel="noopener noreferrer" target="_blank" style="color: rgb(37, 79, 156);">according to an announcement on Wednesday.&nbsp;</a>Cross River, a New Jersey financial services company, and New York-based NewWaterfall Asset Management also participated in the deal. The new financing comes after Deserve&nbsp;<a href="https://www.bizjournals.com/sanjose/news/2021/10/28/visa-invests-in-bay-area-fintech-deserve.html" rel="noopener noreferrer" target="_blank" style="color: rgb(37, 79, 156);">raised $50 million in equity funding</a>&nbsp;from Visa, Mastercard and others last summer at a valuation of about $500 million.Deserve offers white-label and co-branded credit card programs to banks and other financial institutions as well as universities and associations. It leverages Visa’s (NYSE: V) instant issuance technology and security features to allow consumers to apply, activate and place their cards in digital wallets within minutes. The company said it plans to use the new financing to help it continue to scale the business. It said that it enjoyed 650% growth in transactions volume and 800% growth in receivables in 2021. "We're excited about what this new financing will enable us to do as we amplify our reach and help more fintechs, financial institutions, SMB lenders, and brands connect with and grow their customer base," CEO Kalpesh Kapadia said in Wednesday's announcement. The biggest concentration of Deserve's 250 employees work at offices in West Valley City, Utah, where it has 90 workers. About 50 work out of its Palo Alto headquarters and there are 80 more in India.

A Palo Alto startup that says it can help its business customers issue digital credit cards in minutes has $250 million in new financing to help it grow.

Digital credit card startup Deserve wins $250M Goldman Sachs-led financing

<a href="https://247sports.com/Player/Naas-Cunningham-46109988" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 75, 130);">Naas Cunningham</a>, the No. 1 overall recruit in the 2024 class, is heading to Overtime Elite, he told ESPN's Jonathan Givony. With that, the quickly changing landscape of high school basketball and college alternatives during the NIL era has taken another turn. While that news is notable in itself, the most notable part of the news is that Cunningham will not receive a salary from Overtime Elite - becoming the first athlete in the program to do so. Instead, he will follow the NCAA guidelines to profit off his name, image and likeness. A source told 247Sports that Overtime Elite and the NCAA have been in talks regarding this issue in recent months and the current understanding and expectation is that players who do not receive a salary and instead profit off their name, image and likeness will preserve their college eligibility. With Cunningham choosing to go this route, he maintains his amateur status and should remain as the No. 1 overall prospect in the class and a high priority target for schools currently pursuing him which includes: Duke, UCLA, UConn, Maryland, St. John's and others. This decision is a potentially game-changing moment in grassroots basketball and is a massive win for Overtime Elite, which was only announced last spring and launched in the fall of 2021. Cunningham is their highest ranked addition to the program and now with the current option to profit off NIL within NCAA guidelines, we could certainly see a flood of the top prospects in high school basketball to follow suit. Overtime is a multi-media company with millions of followers across all social media platforms. The company's ability to provide a platform for these high school stars to profit off their NIL will be second to none and could be a major draw for these young athletes. Overtime Elite is based in Atlanta with a state-of-the art facility, an academic structure and immense resources that have been invested into by investors including&nbsp;<a href="https://247sports.com/Player/Kevin-Durant-64594" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 75, 130);">Kevin Durant</a>, Jeff Bezos,&nbsp;<a href="https://247sports.com/Player/Carmelo-Anthony-82545" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 75, 130);">Carmelo Anthony</a>&nbsp;and many others. Previously, Overtime Elite was operating on a salary-structure with high school athletes. That meant when players were presented with the opportunity join OTE they were forced to weigh the decision of sacrificing their college eligibility for earlier financial opportunity. There will still be plenty of athletes who choose to stay home and go the traditional high school route but Overtime Elite now has a new and potentially lucrative way to lure top talent while keeping college options alive. The changes, could help them land many more top players and usher in a major change in the path elite players take towards approaching their futures. The ripple effect of this development and Overtime's platform could be felt far and wide as we will also see other leagues and high schools adopting similar platforms to remain competitive in national high schools basketball and in keeping top talent on their rosters.

2024's top player Naasir Cunningham picking Overtime Elite could be a game-changer

SAN FRANCISCO, April 12, 2022 (GLOBE NEWSWIRE) --&nbsp;<a href="https://www.globenewswire.com/Tracker?data=19QPNm6RcHHN4rEQy17V_pC5JuPwSG9AENnmf5hc3fN4AHn4iHkJGCcns0beBpsOCAhTlTF7ozsqXjICwtCMtg==" rel="noopener noreferrer" target="_blank" style="color: rgb(24, 143, 255); background-color: transparent;">BigPanda, Inc.</a>, the leader in AIOps Event Correlation and Automation, announced it was presented with a Bronze Stevie® Award in the customer service department of the year category in the 16th Annual Stevie Awards for Sales and Customer Service. This is the second year in a row BigPanda has been recognized for this award. BigPanda was selected based on its relentless commitment to customer service the past two years, including notable achievements in record-breaking response times and customer satisfaction (CSAT) scores. Winners will be recognized during a virtual awards ceremony on May 11. The 2022 Stevie Award recognition reflects the superior work and impact of BigPanda’s customer service department during the pandemic. Over the past year, BigPanda’s customers have quadrupled as well as the number of users and support requests. With the tremendous growth of their customer base, BigPanda saw a record 25 percent year-over-year increase in ticket volume between 2020 and 2021, and the team was still able to set record response times of 2.72 hours for support tickets, also receiving a 99 percent CSAT score. Average industry response times at companies such as Google and IBM range between 1-2 business days for normal priority tickets and 3-5 business days for incident resolution. Additionally, BigPanda has helped customers attain mean time to repair (MTTR) reductions up to 80 percent by introducing automated prioritization, incident routing and assisting operators with event de-duplication and providing them with enhanced alert data sets through enrichment. “Businesses run on digital services, so any outage or degradation, regardless of the cause, results in business impact, oftentimes impacting revenue or productivity. Our customers depend on BigPanda to detect and prevent those impacts, to keep their digital services running, 24/7,” said Jason Walker, Chief Customer Officer at BigPanda. “Our customer success teams have consistently outperformed on service-level agreements, while achieving impressive CSAT scores over the past year, in what is arguably the most difficult and neglected area of modern technology organizations (ITOps). This recognition validates our commitment to lifetime partnerships with our customers delivered by our Support, Outcomes, Professional Services, and Value &amp; Adoption teams.” BigPanda has recently expanded its customer operations team in multiple regions, including Europe, the Middle East and Africa (EMEA), to support customer demand. The customer service department is comprised of four teams who handle a range of services for today’s leading companies, including troubleshooting issues, providing best practices for IT Ops network operations center (NOC), DevOps and site reliability engineer (SRE) teams and ensuring the continued success and adoption of its platform across otherwise siloed teams. Recent customer service success BigPanda is chosen by Fortune 1000 and Midsize enterprises to help them improve incident automation and prevent IT outages across the most complex IT environments around the world. Some recent customer highlights include: <ul><li>INOC, a global leader in the network operations center industry, was looking for a solution to handle automated incident management and reduce the time humans were spending on event correlation so the team could focus on higher-value projects. BigPanda’s Customer Success team supported INOC through a rapid implementation with a proven deployment methodology and is by their side to ensure they are able to deliver exceptional NOC services to their clients every day.</li><li>Visionworks, one of the US’ fastest-growing optical retailers, was in search of a solution to deduplicate and correlate IT alerts to better manage and resolve technology-related incidents. The company engaged BigPanda to help streamline and improve uptime of digital services and are seeing very encouraging results in early days of pilot. The technology leadership team at Visionworks are pleased with the level of customer service BigPanda delivers and eager to see the trends continue into production.</li></ul> These examples demonstrate BigPanda’s commitment to customer success and reflects its ranking in this year’s Stevie Awards for Sales and Customer Service.“The nominations we received for the 2022 competition illustrate that business development, customer service, and sales professionals worldwide, in all sorts of organizations, have continued to innovate, thrive, and meet customer expectations during the COVID-19 pandemic,” said Stevie Awards president Maggie Gallagher Miller. “The judges have recognized and rewarded their achievements, and we join them in applauding this year's winners for their continued success. We look forward to recognizing them on May 11.” The Stevie Awards for Sales &amp; Customer Service are the world’s top honors for customer service, contact center, business development and sales professionals. The Stevie Awards organizes eight of the world’s leading business awards programs, also including the prestigious American Business Awards®&nbsp;and International Business Awards®. More than 2,300 nominations from organizations of all sizes and in virtually every industry, in 51 nations, were considered in this year’s competition. Winners were determined by the average scores of more than 150 professionals worldwide on eight specialized judging committees. Details about the Stevie Awards for Sales and Customer Service and the list of Stevie winners in all categories are available at&nbsp;<a href="https://www.globenewswire.com/Tracker?data=QOiOFmEJFLZCKUTibZcnNd3yfeQ557PViJoWrqkigRo3pwuz7Wqj2CZZ_7jojHpFL_WK3iJcKdLiFq9VQxAFkk6Yuj_Pl6uyExlB3pYQXL9scFq5l45Olod8wL805dqy" rel="noopener noreferrer" target="_blank" style="color: rgb(24, 143, 255); background-color: transparent;">www.StevieAwards.com/Sales</a>. To learn more about BigPanda, visit&nbsp;<a href="https://www.globenewswire.com/Tracker?data=Pwyxo6vKDYSUmK8PjZPDZsI6hxiJQuAxHpI5PtsWs2Bkt-XarMjA2planSv9T-uCL-hI7w7BxrKyPlaKW9v-Xg==" rel="noopener noreferrer" target="_blank" style="color: rgb(24, 143, 255); background-color: transparent;">www.bigpanda.io</a>. About BigPanda BigPanda keeps businesses running with AIOps that transform IT data into insight and action. With BigPanda’s AIOps platform, businesses prevent IT outages, improve incident management and deliver extraordinary customer experiences. Without BigPanda, IT Ops, NOC, and DevOps teams struggle with a tsunami of data and highly-manual, reactive incident response processes that are poorly suited for the scale, complexity and velocity of modern IT environments. This results in painful outages, unhappy customers, growing IT headcount and the inability to focus on innovation. BigPanda’s AIOps Event Correlation and Automation platform helps Fortune 500 enterprises such as Intel, Cisco, United, Abbott, Marriott and Expedia take a giant step towards Autonomous IT Operations. BigPanda is backed by Advent International, Insight Partners, Sequoia Capital, Mayfield, Battery Ventures, Glynn Capital, Mayfield, Greenfield Partners and Pelion. Visit&nbsp;<a href="https://www.globenewswire.com/Tracker?data=Pwyxo6vKDYSUmK8PjZPDZu22woNExMiyP0hNp3SN9SuoMEYkyeexHylWQWGgW2nHhT_mmrifNlPLGI61lsJA6g==" rel="noopener noreferrer" target="_blank" style="color: rgb(24, 143, 255); background-color: transparent;">www.bigpanda.io</a>&nbsp;for more information. About The Stevie Awards Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East &amp; North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, and the Stevie Awards for Sales &amp; Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at&nbsp;<a href="https://www.globenewswire.com/Tracker?data=m7W5HdmyuXm-iQhUjMvPjXSnE_YNSZYyyGY4ZW1XDKsVMLddZrvCoo1V8favsRHrI3kKWrNqEeobfNhlMm9Ii7jCMjc6ToWmrd1A_jSfvs8=" rel="noopener noreferrer" target="_blank" style="color: rgb(24, 143, 255); background-color: transparent;">http://www.StevieAwards.com</a>. Sponsors of the 16th annual Stevie Awards for Sales &amp; Customer Service include Sales Partnerships, Inc., Thought Leadership Leverage, and ValueSelling Associates, Inc.

AIOps leader recognized for customer success with 99 percent customer satisfaction score and record-breaking responses times two years in a row

BigPanda Wins Bronze Award in 16th Annual Stevie Awards for Sales and Customer Service

Trace, a sports video technology company focused on making personalized highlights of youth athletes, has raised $47 million in a Series C round.The funding gave Trace a $190 million post-money valuation, five times higher than following its previous round, according to David Lokshin, the company’s co-founder and chief executive. Pelion Venture Partners, a Salt Lake City, Utah, venture capital firm, led the Series C funding. Jeff Kearl, a Pelion managing partner since 2019 and co-founder of the Stance apparel brand, joined Trace’s board of directors in conjunction with Pelion’s investment. Kearl has been friends with and a mentor to Lokshin for several years, and he had invested in the company in its early days as an angel investor. Lakestar, a Zurich, Switzerland, VC firm, Toba Capital, a Newport Beach, Calif., VC firm and NextGen VP, a Baltimore VC firm, also participated in the round. All told, Trace has raised $65.2 million in funding, including a $15 million Series B&nbsp;<a href="https://pitchbook.com/profiles/company/61806-43#overview" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 56, 145);">round</a>&nbsp;in late 2019. Trace sells subscriptions consisting of its proprietary wide-angle cameras, artificial intelligence and GPS sensors technology primarily to youth soccer clubs across the United States. The clubs install the cameras at their games, and Trace’s cameras record the games and automatically edit and personalize the videos for each player. For instance, the videos show every time a player touched or kicked the ball during a game, which allows parents not to have to wade through the entire game and edit the film themselves. The videos are then sent via email to the players and/or their parents, who can share them with family members, college coaches and others.

Sports Video Tech Company Trace Raises $47 Million Series C Round, Valued At $190 Million

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3489385-1&amp;h=4183032711&amp;u=https%3A%2F%2Fwww.cocodelivery.com%2F&amp;a=Coco" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 131, 126); background-color: transparent;">Coco</a>, the LA-based remotely piloted delivery service, continues to build out its expert leadership team, bringing on executives from DoorDash, Lyft, Eaze, Amazon, Google and more amid its rapid nationwide expansion. The new hires include&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3489385-1&amp;h=2212692762&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fsahil-sharma-a09659%2F&amp;a=Sahil+Sharma" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 131, 126); background-color: transparent;">Sahil Sharma</a>&nbsp;as Chief Operating Officer,&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3489385-1&amp;h=498314986&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fpquinn86%2F&amp;a=Pete+Quinn" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 131, 126); background-color: transparent;">Pete Quinn</a>&nbsp;as Vice President of Revenue and&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3489385-1&amp;h=2454781724&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fandrea-ambrose-lobato-009b7023%2F&amp;a=Andrea+Lobato" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 131, 126); background-color: transparent;">Andrea Lobato</a>&nbsp;as General Counsel. Strengthened by these industry experts, Coco's growing leadership team will work together to bring the company's vision of the future of last-mile delivery to life. "The current food delivery industry underserves merchants with excessive service fees, inefficient logistics, and driver shortages – a cycle Coco aims to break," said&nbsp;Zach Rash, CEO of Coco. "With these leaders on board, we have the expertise and skills we need to transform the food delivery experience for merchants in cities everywhere. These individuals are some of the best in the world in their respective domains. They've solved hard problems in related industries and built products and teams from the ground up. I'm thrilled to welcome them to Coco."&nbsp; Sahil Sharma, COO, will oversee Coco's operations, vehicle engineering team, and service and support functions while scaling the company's delivery service globally. Sharma brings more than 15 years of experience to Coco, having previously served in various operations and senior leadership roles at Snap, Google, Motorola, Amazon and Apple. "I am incredibly excited to work alongside such an accomplished team of professionals as we develop and scale the perfect last-mile delivery service which works for merchants, their customers and the communities we serve," said Sharma. "Every delivery made by Coco takes a 4,000-pound car off the road, reducing emissions and traffic across the country. I'm proud to be part of a company making an immediate contribution to local communities' environmental and economic growth." Pete Quinn, VP of Revenue, will manage sales, customer success and revenue operations at Coco. Quinn previously served as Senior Director, Head of U.S. Enterprise Partnerships at DoorDash, where he developed and led the company's strategic restaurant partnership ecosystem across&nbsp;North America&nbsp;from the bottom up.&nbsp; "Over the past seven years at DoorDash, I've witnessed first hand the need for a platform that enhances the quality and consistency of last-mile delivery while reducing the cost burden on businesses and the environmental impact on our communities," said Quinn. "Coco's technology has the power to enhance the delivery ecosystem for all parties – local businesses, consumers and even marketplaces. I couldn't be more thrilled to work at a mission-first company that will change the world for the better." Andrea Lobato, General Counsel, will provide strategic legal and business advice to Coco, building on her experienced track record of in-house counsel for industries with emerging, complex regulatory structures. Prior to Coco, Lobato served as General Counsel at Eaze Technologies, the largest cannabis delivery marketplace in&nbsp;the United States, and as Director of Compliance at Lyft. "Coco is poised to become the leader in sustainable, affordable delivery services that improve the bottom line for our local businesses," said Lobato. "I'm proud to join this mission-driven company and lead its legal efforts as we shape the future of last-mile logistics across the country." Coco's leadership team expansion comes on the heels of its recent launches in&nbsp;Austin&nbsp;and&nbsp;Houston, with additional growth plans on the horizon. The company's rapid scaling is supported by its Series A funding round of&nbsp;$56 million.&nbsp; Business owners based in&nbsp;Los Angeles,&nbsp;Austin, or&nbsp;Houston&nbsp;interested in partnering with Coco can contact the company at&nbsp;<a href="mailto:info@cocodelivery.com" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 131, 126);">info@cocodelivery.com</a>. About Coco&nbsp;At Coco, we're dedicated to perfecting the last-mile delivery experience by using remotely operated vehicles. We strongly believe the delivery service industry in its current state is massively underserving merchants, and we are committed to creating a frictionless, reliable, consistent, and sustainable delivery experience for merchants and their customers in cities everywhere. For more information, visit&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3489385-1&amp;h=2901828889&amp;u=http%3A%2F%2Fcocodelivery.com%2F&amp;a=cocodelivery.com" rel="noopener noreferrer" target="_blank" style="background-color: transparent; color: rgb(0, 131, 126);">cocodelivery.com</a>.&nbsp;

Executives from DoorDash, Lyft, Eaze, Amazon, Google and more join the leading robotic delivery company

Coco Bolsters Leadership Team with Top Executives Amid Rapid Nationwide Expansion

LEHI, Utah--(<a href="https://www.businesswire.com/" rel="noopener noreferrer" target="_blank" style="background-color: rgb(254, 254, 254); color: rgb(73, 158, 214);">BUSINESS WIRE</a>)--Weave CEO Roy Banks (NYSE: WEAV) has been named as a CEO of the Year by Utah Business magazine. Every year, Utah Business honors a select group of CEOs who have led their organizations with strength, courage, and endurance and have made it their mission to change the way we do business in Utah. Banks was recognized due to his exemplary leadership since taking the helm of Weave as CEO in December 2020. Under Banks’ leadership, Weave went public in 2021, added new expertise and experience to the executive team, and expanded the company’s hiring footprint into India. This is the second recognition of Banks’ leadership so far this year, as he was recently honored as a finalist for the CEO of the Year award at the first-ever Silicon Slopes’ Hall of Fame gala. “I am so honored to be named as a CEO of the Year by Utah Business magazine,” Banks said. “Being the CEO of Weave has been the highlight of my professional life. Weave has had incredible growth year over year, and a world-class culture to boot. Our teams’ customer obsession and emphasis on cultivating a people-first culture makes Weave well-positioned for our next era of growth.” Roy is the only black CEO of a Utah tech unicorn and has a rating of A+ on Comparably, putting him in the top 5% of CEOs of similar sized companies. With over 900 employees and a brand-new six-story headquarters in Lehi, Weave is focused on a continued upward growth trajectory that involves hiring across the U.S. and internationally, having recently expanded its recruiting base to India. You can learn more about open opportunities to join the People First team at Weave by visiting&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fgetweave.com%2Fcareers&amp;esheet=52593354&amp;newsitemid=20220310005820&amp;lan=en-US&amp;anchor=our+Careers+page&amp;index=1&amp;md5=72ffb2dd4ee3965cc25e85e085041f09" rel="noopener noreferrer" target="_blank" style="color: rgb(73, 158, 214);">our Careers page</a>. About Weave Weave is the all-in-one customer communication and engagement platform for small business. From the first phone call to the final invoice and every touchpoint in between, Weave connects the entire customer journey. Weave’s software solutions transform how local businesses attract, communicate with and engage customers to grow their business. The first Utah company to join Y Combinator, Weave has set the bar for Utah startup achievement &amp; work culture. In the past year, Weave has been included in the Forbes Cloud 100, Inc. 5000 fastest-growing companies in America, and Glassdoor Best Places to Work. To learn more, visit&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.getweave.com%2Fnewsroom%2F&amp;esheet=52593354&amp;newsitemid=20220310005820&amp;lan=en-US&amp;anchor=www.getweave.com%2Fnewsroom%2F&amp;index=2&amp;md5=6415aea5d7911a0e741d9b4f6cb5c9ba" rel="noopener noreferrer" target="_blank" style="color: rgb(73, 158, 214);">www.getweave.com/newsroom/</a>

Nominated among Utah’s leading tech CEOs, Roy Banks is selected for his skilled leadership of Weave

Utah Business Honors Roy Banks as a CEO of the Year

Overstock is a limited partner in blockchain fund SALT LAKE CITY, April 26, 2021 (GLOBE NEWSWIRE) —&nbsp;<a href="https://www.overstock.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 139, 202); background-color: transparent;">Overstock.com, Inc.</a>&nbsp;(NASDAQ:OSTK), today announces it has closed its blockchain fund transaction with&nbsp;<a href="https://pelionvp.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 139, 202); background-color: transparent;">Pelion Venture Partners</a>, a third-party venture capital firm with a proven track record of successfully investing in early-stage companies. Overstock’s wholly-owned blockchain-focused subsidiary,&nbsp;<a href="https://www.mediciventures.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 139, 202); background-color: transparent;">Medici Ventures</a>, has been converted into a limited partnership (the “Fund”) and will be managed by Pelion MV GP, LLC, which will act as the general partner of the Fund. Overstock.com, Inc. is the sole limited partner of the Fund. As the limited partner, Overstock has committed $45 million over the eight-year life of the Fund. The Fund will return invested capital to Overstock first and then split profits on successful exits as set forth in the Fund’s Limited Partnership Agreement. The Fund will hold a significant minority ownership stake in tZERO Group, Inc. (“tZERO”) and Overstock will retain a direct minority equity interest in tZERO. “We remain bullish on blockchain technology and are excited for Medici Ventures to enter this new post-closing phase,” said Overstock chief executive officer Jonathan Johnson. “Pelion has spent the last three months getting to know these portfolio companies better. I expect Pelion, which will oversee the portfolio and make follow-on investment decisions, will take these companies to the next level and help guide them to economic success. I’m pleased we closed this transaction ahead of schedule. Overstock can now focus on our core e-commerce business, which continues to realize tremendous revenue, profit, and market share growth.” Pelion MV GP, LLC now has sole authority and responsibility regarding the Fund’s investment decisions and in exercising all shareholder rights Medici Ventures holds in the&nbsp;<a href="https://www.mediciventures.com/companies/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 139, 202); background-color: transparent;">portfolio companies</a>.“I am pleased this transaction with Overstock came together and has now closed,” said Pelion Venture Partners founder and managing director Blake Modersitzki. “Pelion recognizes the value in these disruptive companies and the world-changing potential of blockchain technology. We look forward to jumping in immediately and working with each of the portfolio companies to maximize the value of these assets.” About Overstock Overstock.com, Inc&nbsp;Common Stock (NASDAQ:OSTK) / Series A-1 Preferred Stock (tZERO ATS:OSTKO) / Series B Preferred Stock (OTCQX:OSTBP)&nbsp;is an online retailer and technology company based in&nbsp;Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by tens of millions of customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded&nbsp;Medici Ventures, its wholly-owned subsidiary dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the Company and other related matters on the&nbsp;Newsroom&nbsp;and&nbsp;Investor Relations&nbsp;pages on its website,&nbsp;Overstock.com. O, Overstock.com,&nbsp;<a href="http://o.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 139, 202); background-color: transparent;">O.com</a>, Club O, and Worldstock are registered trademarks of Overstock.com, Inc. Other service marks, trademarks, and trade names that may be referred to herein are the property of their respective owners. About Medici Ventures Launched in 2014,&nbsp;<a href="https://www.mediciventures.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 139, 202); background-color: transparent;">Medici Ventures</a>&nbsp;was a wholly-owned subsidiary of Overstock.com, Inc. created to leverage blockchain technology to solve real-world problems with transparent, efficient, and secure solutions. It is now a limited partnership managed by Pelion MV GP, L.L.C. Overstock.com, Inc. is the sole limited partner. Medici Ventures’ companies are introducing blockchain technology to industries including identity, land governance, money and banking, capital markets, supply chain, and voting. About Pelion Venture Partners Pelion is an early-stage technology venture capital firm with a national track record of investing in software-based businesses that manage the exponential growth in the movement of information, or “bits,” across wired and wireless networks. Founded in 1986, Pelion has been a partner to leading technology innovators CloudFlare, Fusion-io, MX Logic, RedHat, and Riverbed. More at&nbsp;<a href="https://pelionvp.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 139, 202); background-color: transparent;">www.pelionvp.com</a>. Cautionary Note Regarding Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding expectations with respect to the performance of Pelion and the Fund. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on February 26, 2021, and in our subsequent filings with the SEC. Source:&nbsp;<a href="https://investors.overstock.com/news-releases/news-release-details/overstock-closes-transaction-pelion-venture-partners-oversee/" rel="noopener noreferrer" target="_blank" style="color: rgb(66, 139, 202); background-color: transparent;">Read the press release on Overstock</a>