Money Moves: Blu Ventures has $25 million available for cyber and tech startups
Money movements is a column where we chart the fundraising of tech companies in the region. Do you have any advice? Email us at [email protected]
Investor Blu Ventures has landed a new fund
Private venture capital firm of Vienna, Virginia Blu Venture Investors Cyberwhich also uses the name Blu-Ventures, has just announced the closing of its first fund. The Blu Ventures Cyber Fund will focus on seed investments in cyber and technology spaces to the tune of $25 million.
The fund, which a statement said will close at just under $25 million, had commitments from 95 investors, new and old. So far, the fund has completed three deals, totaling $2.67 million, or about 11% of committed funds. According to Blu Ventures, these initial investments show that the company intends to scale and grow smaller companies navigating the technology and cyber industries.
“We have doubled down on our technology and cybersecurity strategy and are delighted to close this fund and make the first investments,” said Michael Suton, partner of Blu Ventures, in a press release. “As technology solves society’s greatest challenges, these companies are emerging as leaders in providing comprehensive and innovative solutions for customers of all sizes. We are excited to support them in their continued growth and success in technology and cybersecurity. »
cove doubles its software with $10 million
creekthe DC-based coworking company, raised $10 million to develop its software product in a round led by black stone. Castle systems also participated in the financing round alongside the existing investor Second City Ventures. According to Cove, the funds will primarily be used for hiring.
cove has also made strides in the work technology ecosystem for building owners and managers. The company has developed tenant experience and building operating systems for commercial real estate owners. With its platform, which is white-labeled, tenants can do things like rent and book space, check in guests, and submit work orders.
“The way people interact with the built environment is changing, and we’ve developed our software to create a seamless experience for the user, whether tenant or operator,” said Adam Segal, founder and CEO of cove, in a statement. “Partnering with Blackstone as a preeminent real estate investor will help us grow our platform, achieve greater scale, and continue to innovate in the digital layer of the industry’s future.” Having a partner of this stature who believes in our mission challenges us to keep innovating.
Aledade has raised $123 million in a new Series E
Aledadea Bethesda, Maryland-based medical technology company closed a $123 million Series E round this month.
Aledade now partners with more than 1,000 independent primary care practices, including more than 140 federally licensed health centers. Together, these practices have more than 11,000 physicians in 36 states and the District of Columbia.
It is a self-proclaimed “physician empowerment company” that provides data analytics, workflows, payer relations, and other provider care solutions. Led by an existing investor Omers Growth Stockswith an additional contribution of Loyalty management and research company and other previous investors, the funds will expand the company’s technology offerings. Aledade said she plans to invest in more care and innovation for older people covered by Medical help and expand the offerings of its health subsidiary, Aledade Care Solutions.
The huge funding news is on par with the company’s growth over the past few years. In 2020, it closed a $64 million Series C and followed that with a $100 million Series D in 2021. In February this year, it also acquired a care planning solutions provider . Iris Health.
- Capra Biosciencesthe Manassas, Va.-based bioengineering firm, which is building a continuous-flow bioreactor, raised $1.8 million in an oversubscribed pre-seed round. Prithvi Venturesthe Fund E14, GS Futures Contracts, Wes Osbourn, Savantus Ventures, Asymmetry companiesthe Decarbonization Consortium and SOSV are among the other investors in the company.
- Maryland-based Frederick regent educationwhich developed automated financial aid software, raised a “significant” funding round led by Reaching capital partnerswith an additional contribution of Chrysalis Ventures, CNF Investment and New markets. The agreement will make the founder and leader of Attain Greg Baroni the chairman of the company’s board of directors.
- CareFirst BlueCross BlueShield made a grant investment of up to $2.2 million for 16 nonprofits and small businesses in the DMV. According to the company, the grants will be available to provide resources and guidance for recipients’ growth and sustainability.
- DC Dcode Capitalthe investment arm of the govtech accelerator Dcode, invested in two companies that he projects to have strong growth. The backer was a new California-based investor UrbanFootprint’s $25 million Series B round. She also participated in the last round of Tamra technology company from Cambridge, Massachusetts.
- Based in Beltsville, MD Ion storage systemswhich develops lithium batteries, raised a Series A round of $30 million. Toyota Ventures, Tenaska, Bangchak Society, GAINTECH Capital, Alumni Ventures Group, Z2Sixty Ventures, Climate capital and the University of Maryland Discovery Fund were all involved in the round.
Movements of mergers and acquisitions
- Dulles, Virginia, program management and acquisition software company Unison acquired the Ashburn, Va.-based company Plan4 Health, a budget and performance tracking technology provider. Financial terms were not disclosed, however, Plan4 will now be part of Unison Founder and Software Options Brian Cannavan will stay.
- Based in Rockville, Maryland Infinite IT Solutions acquired on Yahoo Small Business Essentials portfolio of the communication giant Verizon. A company statement says that with the acquisition, Infinite intends to be a key driver of growth for small and medium-sized businesses.
- Media of curiosityan Arlington, Virginia-based language learning technology company was acquired by IXL learning. Terms were not disclosed.
- from Arlington Level access signed a merger agreement with Accessibility ESSENTIAL, based in Toronto, Canada. Together, digital accessibility companies intend to create a new end-to-end technology solution for accessibility.
- DC Digital Services Company Ad hoc announced that it would acquire Cascade Technologies, a federal computer company based in Herndon, Virginia. Financial terms were not disclosed.