Venture Capital – Tags Area Tue, 09 Aug 2022 21:49:37 +0000 en-US hourly 1 Venture Capital – Tags Area 32 32 Atlanta-based Collab Capital says “I’m in” for local employee scheduling app with $1 million investment Tue, 09 Aug 2022 21:49:37 +0000

Absenteeism continues to plague offices across the country. Illness, childcare logistics, and transportation issues are the main reasons someone calls unemployment, which ultimately wreaks havoc on a company’s bottom line.

According to a recent report by US Bureau of Labor Statistics. About one million American employees miss work every day only because of stress.

Atlanta-based entrepreneur Lauren Wilson knew this issue well from his time in the HR space. She wanted to fight absenteeism and help companies fill unfilled hours, so she dove into the world of startups with I’m in.

The app is all about workforce optimization. Employees can choose specific hours based on their needs that week, helping them break away from the rigid 9-5 while ensuring employers have the people they need to get through the day successfully. and in full.

The app also offers companies the ability to create incentive structures and improve communication options with employees. Employees are able to incentivize certain hours that are harder to fill.

“There is also a reward system with silver, gold, platinum status that is customizable for each customer,” Wilson added.

The “on-demand work” model has exploded with the rise of the gig economy as well as the new realities facing remote and hybrid work environments. This momentum helped ImIn become an independent company earlier this year. It immediately caught the attention of outside investors. Collab Capital, the Atlanta-based venture capital firm led by Jewel Burks Salomon, Justin Dawkins, and Barry Givensinvested a $1 million seed round in the HR startup earlier this summer.

Wilson is using the seed funding to automate the planning platform and bring the app to market. She told Hypepotamus that she got ImIn off the ground by targeting business process outsourcing (BPO) companies, but don’t think the application is limited to this segment.

Wilson hired a sales manager and a product manager to help the startup grow. She also strategically integrates the in-house development team.

Wilson, a graduate of the University of Georgia, Georgia State, and American University, began her career with Georgia-based outsourcing services company Chime Solutions.

She is one of a growing number of Southeast Founders making their mark on HRTech in our post-pandemic world.

And with the new seed investment, Wilson joins an impressive but incredibly small list of black female founders who have recently raised venture capital funds. Only 49 black women entrepreneurs raised more than $1 million in 2021, according to Business Intern. On the Southeast list are Resilia (New Orleans), The Labz (Atlanta), GoodFynd (Alexandria, Virginia), Kushaeu (Fort Worth, Florida) and Mixtroz (Birmingham).

Thirty Capital launches CRE Finance online training Mon, 08 Aug 2022 11:52:20 +0000

Thirty Capital is both a commercial real estate lender and venture capital firm. It’s also a company that apparently isn’t happy with new CRE analysts, so it’s launching the online “CRE Finance & Innovation Academy” in a bid to train people the way it would like to see.

“Capital markets and the use of data analytics are changing at an incredible rate,” said Robert Finlay, the company’s founder and CEO, in prepared remarks. “It is imperative to train practitioners at the intersection of these hyper-technical skills in CRE and finance. The Academy exists to do just that.

According to the release, Thirty Capital found it needed to retrain new analysts. “They lacked the real-world industry experience and training outside of college to thrive,” the statement said. “There is a growing gap between the knowledge taught in classrooms and the skills CRE professionals need to be successful and employable.

While Thirty Capital will use the new program to train internal teams, it also plans to make the resource available to “help the industry keep up with changing roles, technologies and practices.”

The online learning environment offers 8-10 week certification courses, although at this stage they may not have the stamp of established certifications of professional groups. The company says there are “weekly on-demand, live-facilitated classes with rotating CRE resident executives offering varied, relevant, and practical skill-building experiences.”

According to new business website, there are currently two different lesson plans. The first is debt and equity optimization first, with the goal of learning how to “collect, merge and analyze data for their organizations. The second is data-driven analytics, which focuses on learning how to “underwrite and analyze assets, and the information needed to determine when to buy, sell, or refi.” Each is divided into seven different lessons.

Some of the experts listed are affiliated with companies such as TD Bank, HEI Hotels & Resorts, LEM Capital, RealPage, Lloyd Jones and Thirty Capital. Some other companies mentioned are part of the Thirty Capital portfolio.

“The Academy’s mission is to improve accessibility to tailored training for new professionals, guiding and equipping them to achieve leadership positions,” says Thirty Capital. “Employer training needs are changing faster than colleges can update curricula – The Academy will seamlessly add new topics as the industry advances.”

In addition to learning, there is also a networking aspect. Current and former students can “connect with resident executives for discussions, networking, and career opportunities.”

Interest loophole survives another political battle Sat, 06 Aug 2022 02:22:22 +0000

“Interest has become the MacGuffin of the IRA saga,” said James Lucier, an analyst at Capital Alpha Partners, a political research firm in Washington, describing it as a literary device that writers include simply to make plots more interesting. “The MacGuffin diverted attention from the really important things that happen in the story to make the surprising conclusion even more surprising at the end.”

On Friday, some progressive political pundits ignored the elimination of the deferred interest provision, which they saw as a modest improvement over the current law.

“The proposal that was in the bill until last night made a technical adjustment to the holding period for assets eligible for carried interest treatment, said Jean Ross, senior fellow at the Center for American Progress, a group of liberal research in Washington. “A better approach would be to tackle the problem head on and say that remuneration for the management services of an investment fund should be taxed like labor and subject to ordinary tax rates.”

Ms Ross added that she was happy with the addition of the stock buy-back tax, which some Democrats and their allies have long supported, arguing that companies are spending too much money to buy back their own shares, rather than invest in research and development or give raises to workers.

Ms. Sinema herself offered little explanation of why she considered it so important to preserve the tax treatment of deferred interest. She said she plans to work on legislation with Sen. Mark Warner, Democrat of Virginia, to close the loophole. But unless the legislation is included in the current package, which is being fast-tracked through a murky budget process, any reform will require the support of at least 10 Republicans.

“I think we’ve come to an agreement that there are areas where there has been abuse,” Mr Warner said in an interview, adding: “I’m disappointed it hasn’t been included in this bill, but I look forward to working with Sen. Sinema — and others — to see if we can fix this.

In a statement Thursday, Ms Sinema said: ‘We have agreed to remove the deferred interest tax provision, protect advanced manufacturing and boost our clean energy economy in the Senate Budget Reconciliation Legislation. .”

Emily Cochrane contributed report.

Gig App Bacon.Work Secures $8M in Funding from Established Backers and Venture Capitalists Who Once Used Bacon to Find Temp Jobs Thu, 04 Aug 2022 11:05:00 +0000

The “never be out of work” app offers a great quit solution by providing hourly employment to displaced workers and helping companies meet changing demands

PROVO, Utah, August 4, 2022–(BUSINESS WIRE)–Bacon on-demand labor app ( received $8 million in Series A-1 funding from some of the top companies country’s investment firm, as well as a former gig worker who is now investing in the company he attributes to his return. The ‘temp agency in an app’ will use the latest funding to hire key team members and expand to 40 more markets over the next 18-24 months.

Bacon’s new investors include Grayhawk Capital in Phoenix, 2.0 Ventures in Salt Lake City and Elevate Capital in Portland. They join follow-on investors Hall Venture Partners in Provo, Utah, and Assure Syndicates in Salt Lake City.

“Bacon is successfully responding to the huge shifts in the economy due to the Great Resignation, labor shortages and the pandemic,” said Hunter Sebresos, Founder and CEO of Bacon. “Using on-demand labor protects and helps workers and businesses in times of uncertainty.

Bacon has been dubbed the “Uber of Hourly Labor” by allowing companies with varying temporary staffing needs to screen, select and hire skilled workers in moments. Likewise, the free app makes it easy for workers to find and select hourly shifts that suit their own schedule and lifestyle. Bacon does not charge a fee for companies to hire a full-time Bacon worker.

Bacon has provided over 240,000 shift opportunities to over 165,000 workers and 650 businesses in Arizona, Florida, Georgia, Idaho, Illinois, Michigan, Minnesota, Nevada, Virginia, Tennessee, Texas, Utah, Wisconsin and Washington, DC

Gig worker to gig investor

Assure chief executive Landon Ainge discovered Bacon after he lost his job at a startup and used the app to connect with dozens of people and businesses. Ainge shared on LinkedIn why he now wants to give others the same benefits he received from the company.

“I knew how Bacon helped businesses and individuals grow in all walks of life,” Ainge said. “When looking for a promising company to invest in, I knew Bacon was where I would help my investors deploy their capital.”

Assure Syndicates invests in Bacon and the company provides innovative and industry-unique matchmaking services for venture capitalists and company founders.

Why Others Invest Big in Bacon

Elevate Capital is a Pacific Northwest-based venture capital firm that invests nationwide in underrepresented early-career entrepreneurs, including women, BIPOC, LGBTQ+, and veterans.

“Elevate Capital invests in underserved founders and building companies that maximize human potential,” said Nitin Rai, Founder and Managing Partner of Elevate Capital. “As Marine Corps veterans, Hunter and Bacon embody the spirit and investment philosophy of Elevate Capital.”

2.0 Ventures is a new venture capital (VC) group based in Utah that focuses on strategy to do what is right for businesses and investors.

“Bacon is disrupting a large legacy market of temp agencies that lack innovation and market momentum,” said Benson Metcalf, managing partner and CEO of 2.0. “We love all the bustle on display.”

Grayhawk Capital is a long-standing, respected venture capital group that primarily invests in B2B disruptive SaaS solutions for various industries, including healthcare, cybersecurity, and fintech.

“We are investing in Bacon because we are impressed with how Hunter is growing this business and disrupting outdated temp agencies,” said Brian Smith, managing partner of Grayhawk.

Bacon has been part of the Hall Labs and Hall Venture Partners (HVP) legacy since the company’s investment cycle began in 2019.

“We are pleased to back Bacon again as they have demonstrated great traction in their existing markets and have strategically opened up new markets,” said Matt Van Dyke, HVP Managing Partner.

About Bacon

Bacon is like the Uber of hourly jobs by making it easy to work anytime, anywhere. Bacon connects employers with prequalified, available candidates who will work on demand for as little as one shift. Bacon offers employment opportunities for warehouse, construction, deliveries, catering, events, printing, laundry production, restaurants, retail and other jobs. The Provo, Utah company started in 2018 and has attracted businesses and employees in 14 states through the Bacon Work On-Demand app. For more information, visit

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Paul Murphy

Strand CEO on Founder-Led Biotechnology, Venture Capital and Market Rollback Tue, 02 Aug 2022 11:58:39 +0000

Venture capitalists have poured tens of billions of dollars into new pharma startups in recent years, dramatically expanding the ranks of private and public biotech companies.

But some say there is still room for more. Specifically, there is room for more young biotechs driven and led by the scientists and researchers who founded them. While the idea of ​​the science entrepreneur is not foreign, more and more of the hottest, best-funded biotech startups are being launched from within the walls of big backers like Flagship Pioneering, Third Rock Ventures and Atlas Venture.

These companies often train and incubate young drugmakers around ideas developed in-house and equip them with the tools, funding and frameworks they need to advance their research. It’s a controlled approach that has led to high-profile successes like Moderna as well as a host of other well-resourced companies advancing new drug manufacturing technologies. But it has also spawned similar businesses, which some say may struggle to stand out.

Jake Becraft, CEO and co-founder of Strand Therapeutics, is one of those advocating for more founder-led biotech companies, and a better ecosystem to fund and support their development.

“There is still good science that is not funded, and there is bad science that is funded, he said in an interview.

Becraft founded Strand in 2017 to make drugs from messenger RNA, years before genetic code strips powered COVID-19 vaccines from Moderna and Pfizer partner BioNTech. It has raised $58 million to date in seed and venture capital funding, but its investors are outside the familiar circle of East Coast biotech backers. The company, which now employs around 75 people, aims to put its first therapy into clinical trial next year.

BioPharma Dive spoke with Becraft about the founder-led biotech movement, the current public market downturn for drugmakers, and the lure of “platform” companies. The following interview has been lightly edited and condensed for clarity.

BIOPHARMA DIVE: There’s this idea of ​​founder-led biotechnology, which is sometimes mentioned in contrast to some of the venture capital models that are out there. As founder and CEO, what does this idea mean to you? What does this mean for how biotech companies are created?

JAKE BECRAFT: To me, it’s not really an ‘either/or’ thing. Companies created by venture capital will continue to exist. I think the biotech ecosystem would be healthier and we would probably have more breakthrough companies if we had more founder-backed ecosystems.

The handbook of business creation – for the development of classic drugs, [where you] taking an asset from a university group, discovering new biology, then bringing it to a company and leading the development of traditional drugs – has become a kind of formula. Not to spoil the challenge, but essentially this formula was more repeatable and so a lot of funds started running these businesses.

What we’re seeing from people across the industry is that these kinds of companies have ended up being…there’s just less identity when a fund is successful and the management also changes sometimes rapidly. You will see CEOs and management teams cycle every two years. I think that usually leads to a very different experience for your employees.

To me, founder-led biotechnology simply means that the founders and creators of the technology have a voice and a position in the direction of the company. This does not necessarily mean that the scientist doing the work has to be the CEO of a company. This will certainly not be the case for everyone. Not all scientists will be able or even willing to take on a CEO role.

You mentioned that you think the biotech ecosystem would be healthier if we had more founder-led biotech. What are some of the challenges preventing this from happening?