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Unicorn Hailo Closes $120 Million Funding Round, Debuts Powerful Hailo-10 AI Accelerator Bringing GenAI To Edge Devices

OurCrowd

By Matthew Kalman Hailo, the pioneering chipmaker of edge artificial intelligence (AI) processors, announced the successful extension of its series C fundraising round with an additional investment of $120 million, bringing its valuation to more than $1 billion, Bloomberg reported. The successful close is “the latest sign of investor enthusiasm for startups that can help address a global chip shortage and fuel the development of generative AI,” Bloomberg reported. The company also announced the introduction of its innovative Hailo-10 high-performance generative AI (GenAI) accelerators that usher in an era where users can own and run GenAI applications locally – including on many edge devices – without registering to cloud-based GenAI services. “Hailo’s chips execute AI tasks with lower memory usage and power consumption than a typical processor, making them a strong candidate for compact, offline and battery-powered devices such as cars, smart cameras and robotics,” said TechCrunch. While the funding round has officially closed, investors can still participate in this raise for a limited period via an exclusive allocation available through OurCrowd, the online investment platform. “OurCrowd first invested in Hailo when it was valued at about $30 million. Now it’s a unicorn,” said Jon Medved, OurCrowd’s Founder and CEO. “We are excited and delighted to be able to offer investors the opportunity to participate in the development of impressive startups like this.” The current round brings Hailo’s total funding to more than $340 million. “The closing of our new funding round enables us to leverage all the exciting opportunities in our pipeline, while setting the stage for our long-term future growth,” said Orr Danon Hailo’s CEO and Co-Founder. “Together with the introduction of our Hailo-10 GenAI accelerator, it strategically positions us to bring classic and generative AI to edge devices in ways that will significantly expand the reach and impact of this remarkable new technology.” “We designed Hailo-10 to seamlessly integrate GenAI capabilities into users’ daily lives, freeing users from cloud network constraints. This empowers them to utilize chatbots, copilots, and other emerging content generation tools with unparalleled flexibility and immediacy, enhancing productivity and enriching lives,” Danon said. GenAI At The Edge The new Hailo-10 GenAI accelerator enables a whole spectrum of applications that maintain Hailo’s leadership in both performance-to-cost ratio and performance-to-power consumption ratio. Hailo-10 leverages the same comprehensive software suite used across the Hailo-8 AI accelerators and the Hailo-15 AI vision processors, enabling seamless integration of AI capabilities across multiple edge devices and platforms. Enabling GenAI at the edge ensures continuous access to GenAI services, regardless of network connectivity; obviates network latency concerns, which can otherwise impact GenAI performance; promotes privacy by keeping personal information anonymized and enhances sustainability by reducing reliance on the substantial processing power of cloud data centers. By unlocking the power of GenAI on edge devices, such as personal computers, smart vehicles and commercial robots, Hailo-10 allows users to completely own their GenAI experiences, making them an integral part of their daily routine. Hailo accomplishes this immersive GenAI experience through a Hailo-10 architecture that supports maximum GenAI performance with minimum required power. “As GenAI on the edge becomes immersive, the focus turns to handling large LLMs in the smallest possible power envelope — essentially less than five watts,” Danon said. Since its founding in Israel in 2017, Hailo has become a leading global supplier of intelligent AI chips that serves more than 300 customers around the world. The company has offices in the United States, Europe, Japan, South Korea, China and Taiwan. “Whether users employ GenAI to automate real-time translation or summarization services, generate software code, or images and videos from text prompts, Hailo-10 lets them do it directly on their PCs or other edge systems, without straining the CPU or draining the battery,” Danon said. Top Class Performance Hailo’s specialized AI processors enable data center-class performance on edge devices. Hailo’s processors are the product of a rethinking of traditional computer architecture, enabling smart devices to perform sophisticated deep learning tasks such as object detection and segmentation in real-time, with minimal power consumption, size and cost. The processors are designed to fit into a multitude of smart machines and devices, impacting a variety of sectors including compute, automotive, security, industry 4.0, and retail. Early applications of Hailo-10 GenAI accelerators will be targeting PCs and automotive infotainment systems, empowering current and future CPUs that cannot by themselves power the chatbots, copilots, personal assistants and speech-operated operating systems that have become standard today. Hailo will begin shipping samples of the Hailo-10 GenAI accelerator in Q2 of 2024. Among popular GenAI platforms, Hailo-10 can run Llama2-7B with up to 10 tokens per second (TPS) at under 5W of power. In processing Stable Diffusion 2.1, a popular model that produces images from text prompts, Hailo-10 is rated at under 5 seconds per image in the same ultra-low power envelope. Hailo-10 is capable of up to 40 TOPS (tera operations per second), a new performance standard for edge AI accelerators. Hailo-10 is faster and more energy efficient than integrated neural processing unit (NPU) solutions and delivers at least 2X more performance at half the power of Intel’s Core Ultra NPU, according to recently published benchmarks. Hailo will be present at the Embedded World exhibition in Nuremberg, April 9-11, Booth 126, Hall 1, and at the ISC West exhibition in Las Vegas, April 10-12, Booth #31065. For more information about investing in Hailo via the OurCrowd platform, click HERE. Featured photo courtesy of OurCrowd. OurCrowd was started in 2013, driven by the idea that the business of building startups grows bigger and better when the global ‘crowd’ gains access to VC-level investment opportunities.Today, OurCrowd is a global venture and alternative investing platform that empowers institutions and individuals to invest and engage in emerging companies. OurCrowd vets and selects companies, invests its capital, and provides its global network with unparalleled access to co-invest and contribute connections, talent and deal flow. OurCrowd builds value for its portfolio companies throughout their lifecycles, providing mentorship, recruiting industry advisors, navigating follow-on rounds and creating growth opportunities through its network of multinational partnerships. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Lisa Graston lisa.graston@ourcrowd.com Company Website http://www.ourcrowd.com

April 16, 2024 08:45 AM Eastern Daylight Time

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Isospec Analytics raises $1.9m as it introduces breakthrough technology to rapidly identify unknown molecules at scale

Isospec Analytics

When developing new drugs, nutitional products, or pesticides, it’s critical that unknown molecules are identified correctly. But accurate identification is a lengthy process and all too often unsuccessful, leading to failed regulatory processes, or worse, consumer health being put in danger. Today, Isospec Analytics has raised $1.9M to commercialize new technologies for molecular analysis that rapidly identify unknown molecules in minutes, helping pharmaceuticals, nutrition and agritech companies develop safer products and enabling researchers to discover new biomarkers. Isospec’s $1.9M pre-seed round is led by Founderful (formerly Wingman Ventures), with additional participation from specialized investors Tiny.vc, another.vc and Venture Kick. Isospec was founded in 2022 by Ahmed Ben Faleh, Stephan Warnke, and Thomas Rizzo, who partnered together to explore how they could redefine the process of molecular analysis to access new biological information and enable breakthroughs in diagnostics, therapeutics, and nutrition. Based on over 20 years of research, the founders combined technologies from multiple disciplines – analytical chemistry, photonics, and cryogenic materials initially designed for space applications – to build a tool that can generate a new data dimension about molecular structures. This allows for the identification of molecules which were, until now, unknown. Today, identifying an unknown molecule is primarily based on mass analysis, which does not provide sufficient information. Identifying a by-product or an impurity requires the combination of high sensitivity to detect trace amounts in a sample, coupled with the ability to generate data that can definitively identify the structure of a molecule. Existing tools lack either one or both of these capabilities. “Unfortunately, mass alone does not uniquely determine the structure of a molecule. Several different molecules can have exactly the same mass, called isomers, but totally different properties. For example, one isomer might be toxic, while another may be a life-saving therapeutic,” said Thomas Rizzo, Professor of Chemistry at EPFL. Definitive molecular identification currently requires the combination of several techniques and a lengthy process including purification and multiple syntheses. Companies developing new products are thus faced with a dilemma: either spend months identifying unknowns and delay their go-to-market, or move forward based on guesses and risk failing regulatory requirements and endanger consumer health. In comparison, Isospec’s technology generates unique, information-rich metrics that allow for the rapid identification of unknown molecules in minutes instead of months, bringing unprecedented scalability to molecular identification. “By adding infrared analysis directly inside a mass spectrometer, we have a valuable new dimension by which to identify molecules,” adds Professor Thomas Rizzo. Originating from the Laboratory of Molecular Physical Chemistry (LCPM) at EPFL, Isospec’s breakthrough technology is already being used in the analysis of sugars and metabolites within the food and agritech industry to carry out quality control and support product R&D. However, the team believes the real potential of their technology is in the discovery of new biomarkers for therapeutics development and diagnostics. “In a human blood sample, there are 15,000 small biological molecules that can give precise information about a person’s health at any given time. However, less than 5% of these molecules can be identified. The ability to rapidly identify new molecules means we can now leverage the 95% unknown molecular space to develop treatments to the deadliest diseases,” said co-founder and CEO Dr. Ahmed Ben Faleh. These combined use cases were compelling for Isospec’s investors. “Isospec’s value proposition, which offers early access to its cutting-edge research in biomolecular analysis as a service, convinced us of the potential of the technology and the team,” explains Alex Stöckl, partner at Founderful and board member of Isospec. “Isospec is one of the first 8 companies in which we have invested with our second fund, which aims to reach $120M.” The team is currently working on the scalability of their platform, introducing automation at every step and implementing machine learning tools for data analysis and insight generation. “This round allows us to build a software team composed of experts in data engineering,” said Dr Ahmed Ben Faleh. Against the highly competitive backdrop of the sugar and metabolite analytical markets, Isospec is setting its sights on becoming the leading provider of molecular analysis solutions and biomarker discovery technology. About Isospec Isospec Analytics is an EPFL spin-off based in Lausanne – Switzerland, whose mission is to implement technology to discover new disease biomarkers, accelerate the development of therapeutics and transform the future of clinical nutrition. For more information please visit IsoSpec Analytics About Founderful Founderful is Switzerland’s leading pre-seed fund. We give every founder our deepest understanding and highest levels of support, and together, we’re building the future of the Swiss startup ecosystem. Contact Details isospec Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.isospecanalytics.com/

April 16, 2024 08:00 AM Eastern Daylight Time

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Crossword Cybersecurity reports strong performance of cybersecurity monitoring service in Caribbean

Crossword Cybersecurity PLC

Crossword Cybersecurity PLC (AIM:CCS) group managing director Stuart Jubb tells Proactive's Stephen Gunnion that the company's Nightingale cybersecurity monitoring service performed well in the first quarter after expanding into the Caribbean. Jubb told Proactive the company has established a partnership with a local cybersecurity firm founded by entrepreneurs, addressing a significant gap in cybersecurity support in the region. This partnership has led to significant contracts with major companies in the Caribbean, enhancing Crossword's presence and reputation locally. Nightingale is a monitoring software installed in data centres to oversee laptops and PCs, providing early warnings of any unusual access patterns, which can indicate potential security threats. This service is becoming increasingly crucial as Caribbean countries, with growing international business interests and natural resources, begin to recognise the importance of cybersecurity. The local partner, now a preferred security provider, is also offering consultancy services, aiding companies in developing comprehensive cybersecurity strategies. This approach mirrors Crossword's successful strategies in other markets, with plans to replicate this model in additional English-speaking and Commonwealth countries. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

April 16, 2024 07:08 AM Eastern Daylight Time

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HTX Ventures Partners with Core Venture Network to Empower Core Chain Innovators

HTX Ventures

HTX Ventures today becomes a part of the Core Venture Network (CVN) and joins Core as an ecosystem partner, marking a new chapter in the ecosystem's commitment to fostering innovation and supporting developers on the Core Chain. "This partnership represents a pivotal moment for HTX Ventures and the Core Chain ecosystem. As the global powerhouse of HTX, HTX Ventures aims to identify and discover the best and most innovative projects in the market. With over 10 years of history, HTX Ventures offers valuable services such as incubation, investment, listing and consultancy support to Core’s vibrant community of innovators and builders," said Edward, Managing Partner at HTX Ventures. "Our collaboration represents a fusion of expertise and resources aimed at unlocking new opportunities for growth and innovation within the Core Chain." In collaboration with Core Ventures, the Core Venture Network offers strategic assistance to builders and projects on the Core Chain through financial backing, advisory services, and industry connections. "Collaborating with HTX Ventures is a strategic step towards enhancing the support system for our developers and entrepreneurs," said Brendon Sedo, an Initial Contributor at Core Chain. “HTX Ventures' track record of successful investments in blockchain technology aligns perfectly with our mission to foster a thriving, innovative ecosystem." Renowned for its astute investments in cutting-edge projects like Pyth, Optimism, and Arbitrum, HTX Ventures brings a wealth of experience and expertise to the Core ecosystem. The inclusion of HTX into the Core ecosystem is a testament to the network's dedication to excellence and continuous effort to enhance resources for its community of developers and entrepreneurs. Developers and entrepreneurs interested in exploring funding opportunities and bringing their innovations to life are encouraged to visit Core Chain’s website and submit an application. About HTX Ventures HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures currently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including Dragonfly, Bankless Ventures, Animoca, Shima, and IVC. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/en-us/ventures About Core Venture Network The Core Venture Network is dedicated to supporting the growth and development of the Core Chain ecosystem, providing essential resources and guidance to its community of developers and innovators. About HTX Ventures HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures presently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most vigorous Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including IVC, Shima, and Animoca. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/en-us/ventures

April 16, 2024 03:57 AM Eastern Daylight Time

CWG Markets Emerges as a Standout Participant at the MONEY EXPO MEXICO

Rev Up Marketers

CWG Markets' standout participation at MONEY EXPO MEXICO, held recently at Centro Citibanamex in Mexico City, showcased the company's innovative concepts and breakthrough services in the financial sector. This prestigious event brought together global financial industry elites and innovators, providing an ideal platform for CWG Markets to demonstrate its commitment to pushing the boundaries of financial services. Innovative Concepts and Breakthrough Services Throughout the expo, CWG Markets captivated attendees with its advanced solutions and services, highlighting a keen insight into the future trends of the financial industry. The company's presence was marked by a dedication to innovation and excellence in a rapidly changing financial landscape, resonating strongly with industry peers and clients. Spanning two days, the expo facilitated vibrant discussions on financial market dynamics, investment strategies, and the latest technological advancements in finance. CWG Markets leveraged this opportunity to engage with clients, partners, and industry peers, sharing valuable insights and deliberating on the future challenges and opportunities within the financial sector. CWG Markets' participation in the Mexico Financial Expo underscores its role as a visionary company, constantly seeking to explore and expand the frontiers of the financial world. Company representatives expressed their enthusiasm, stating, "Participating in such a pivotal event was exhilarating. It provided us with a fantastic platform to unveil our innovative ideas and services and to connect with other professionals who are equally passionate about transforming the future of finance." The expo wasn't just about showcasing achievements; it was a forum for exchanging ideas with other industry leaders and innovators. Such interactions are crucial for staying ahead in the competitive and ever-evolving financial sector. CWG Markets capitalized on networking opportunities to forge lasting partnerships that drive industry-wide transformations. Resounding Success and Future Plans As the expo's activities wind down, both participants and attendees are taking stock of the invaluable knowledge and networking opportunities it offered. For CWG Markets, the event was a resounding success, further cementing its status as a pivotal player in the global financial community. The company is eager to continue its journey of innovation and excellence, contributing significantly to the development and growth of the financial industry worldwide. CWG Markets remains steadfast in its journey of innovation and excellence. The expo served as a stepping stone, fueling the company's drive to explore new horizons and contribute meaningfully to the ongoing evolution of the financial industry. With a firm focus on customer-centric solutions and a penchant for embracing emerging technologies, CWG Markets is poised to continue making waves and shaping the future of finance on a global scale. Contact Details CWG Markets Will +60 1-800-81-9380 complaint@cwgmarkets.com Company Website https://cwgmarkets.com/

April 16, 2024 12:53 AM Eastern Daylight Time

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I-ON Digital Corp. Announces Delay in Annual Report Filing

I-ON Digital Corp.

I-ON Digital Corp. (OTC: IONI), a company engaged in institutional-level asset digitization and securitization solutions, today announced that it is continuing to finalize the review and audit of its financial statements for the year ended December 31, 2023. As a result, it will not file its Annual Report on Form 10-K for the year ended December 31, 2023 today as required by Rule 12b-25 under the Securities Exchange Act of 1934, as amended. “We are continuing to finalize our 2023 financial statements and audit,” said Carlos Montoya, Chief Executive Officer. “We are working diligently to complete the review and expect to file our 10-K within the next week,” Montoya continued. About I-ON Digital Corp: I-ON Digital Corp (OTC: IONI) is a leading-edge provider of asset-digitization and securitization solutions engineered to provide a secure, fast, transparent, and institutional-grade ecosystem that digitizes documentary evidence of ownership, in accordance with a rigorous onboarding and acceptance process, into secure, asset-backed digital certificates that bring liquidity and accepted value to a wide-array of asset classes. I-ON develops, acquires, and deploys a portfolio of novel and patented next-generation technologies that have been integrated and engineered into a comprehensive ecosystem built on a zero-trust, hybrid blockchain architecture that utilizes state-of-the-art smart contracts and sophisticated workflow management AI technologies to digitize ownership records of recoverable gold, precious metal, and mineral reserves into digital certificates that facilitate wealth transfer through new asset-backed financial instruments and asset classes that provide reserve owners and investors a new channel to maximize portfolio liquidity. By offering services associated with asset digitization and securitization, and by licensing the Company’s expanding intellectual property portfolio, I-ON is able to generate revenue through transaction fees while actively growing innovative platforms beneficial for next-generation transactional models. Additional information is available at https://iondigitalcorp.com/. Forward-Looking Statements This news release contains forward-looking statements involving risks and uncertainties, which may cause results to differ materially from the statements made. When used in this document, the words "may," "would," "could," "will," "intend," "look to," plan," "anticipate," "believe," "estimate," "expect," "seek," "potential," "outlook," and similar expressions are intended to identify forward-looking statements. Such statements, including, but not limited to, I-ON's current views with respect to future events and its financial forecasts, are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by I-ON with the Securities and Exchange Commission. In addition, there is uncertainty about the further spread of the COVID-19 virus or new variants thereof or the occurrence of another wave of cases and the impact it may have on the Company's operations, the demand for the Company's products, global supply chains, and economic activity in general. These and other risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. Statements in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue. I-ON does not intend or assume any obligation to update these forward-looking statements other than as required by law. Contact Details I-ON Digital Corp. Investor Relations +1 866-440-2278 IR@iondigitalcorp.com Company Website https://iondigitalcorp.com

April 15, 2024 07:42 PM Eastern Daylight Time

Bluepeak to Accelerate Its Over $100 Million Investment in Fiber Optic Network Expansion Into Oklahoma and Texas

Bluepeak

Bluepeak is accelerating its more than $100 million investment to expand its fiber-to-the-home (FTTH) network to over ten new markets in Oklahoma and Texas starting this year. “We’re thrilled to continue building out our fiber-to-the-home network, expanding into new communities and bringing cutting-edge technology and an incredible value proposition to more customers in Oklahoma, Texas and elsewhere,” said Bluepeak CEO Rich Fish. The expansion means Bluepeak’s fiber network will soon be available to more than 100,000 new homes and businesses in new markets across Oklahoma and Texas. Denison, Texas, was the company’s most recent fiber expansion market announced in late 2023, and the new investment by Bluepeak will result in more than ten additional communities in the region benefiting from greater choice among their internet options starting in 2024 and 2025. Since 2021, Bluepeak has been dramatically improving broadband options by bringing fast, reliable, affordable fiber internet to residents of Oklahoma, Wyoming, South Dakota, North Dakota and Texas. The latest network expansion investment is part of Bluepeak’s larger plans to invest more than $200 million to continue building out its network in its currently served markets, reaching more than 200,000 new locations with its fiber network in 2024 and 2025. With Bluepeak service, customers get fiber-fast speeds, equal upload and download speeds and whole-home WiFi. Bluepeak service features all-in pricing, where the price on the website is the price on the bill, with a minimum service tier of 1 gigabit-per-second (Gbps). Homes can get up to 5 Gbps and businesses 10 Gbps and beyond. Each fiber internet speed package includes Wi-Fi powered by eero, along with the added value of eero Secure, which protects devices from online threats, ads and allows for customized content filtering. Bluepeak's fiber network provides reliable connectivity and the bandwidth to connect more devices for internet, streaming, gaming and more. Ultimately, Bluepeak service increases broadband competition for internet consumers by providing a fast, reliable, affordable choice for internet in communities where options have traditionally been very limited. According to the Federal Trade Commission, competition “benefits consumers by keeping prices low and the quality and choice of goods and services high.” In addition, a 2020 report by Federal Reserve Bank of Richmond on “Bringing Broadband to Rural America” determined that broadband access and adoption is linked to increased job and population growth, higher rates of new business formation, higher home values, and lower unemployment rates. Those interested in more information on Bluepeak service availability and details on the construction process can sign up for updates by entering their service address at mybluepeak.com. About Bluepeak Bluepeak is a new kind of internet provider bringing fast, reliable, affordable internet to places that have needed better options for too long. The company has roots serving Great Plains and Midwest communities going back more than 30 years. As the need for internet in the region has evolved so has Bluepeak, upgrading and expanding service to several markets in South Dakota, southwest Minnesota, Oklahoma, Wyoming and North Dakota with the newest cutting-edge technology. These expansion efforts include multi-million-dollar infrastructure projects, community involvement and growth through local hires. Bluepeak is earning the trust of customers and businesses through simple, affordable offerings, responsive, reliable customer service and transparent pricing. The company’s unique approach to delivering internet service has earned Bluepeak accolades for customer satisfaction, network performance, workplace culture and meaningful community partnerships. Visit www.mybluepeak.com to learn more. Contact Details Bluepeak Jesse Granger +1 720-703-4315 mediaqueries@mybluepeak.com Company Website https://www.mybluepeak.com

April 15, 2024 01:17 PM Mountain Daylight Time

Bango says positive momentum from 2023 has continued into 2024

Bango PLC

Bango PLC (AIM:BGO, OTCQX:BGOPF) CEO Paul Larbey takes Proactive's Stephen Gunnion through the company's 2023 performance, highlighting revenue growth of 62% to $46.1 million and a 29% increase in adjusted EBITDA to $6.4 million, slightly above the range provided in a January trading update, partly due to FX reclassification. A notable achievement was the 77% growth in recurring revenue for the Digital Vending Machine (DVM). This improvement has provided a solid foundation for future expansion, Larbey said. The full integration of the company's Docomo Digital acquisition promises significant future cash generation and profitability. The acquisition has also realised £21 million in annualised cost synergies, with additional savings identified. DVM, identified as a growth engine, has seen an expansion, with nine new contracts signed, increasing the total to 18 by year-end, and an additional four in the first quarter of 2024. This growth has propelled the ARR from £5 million at the end of 2022 to £11 million by the end of Q1 2024. Larbey said Bango's market position has been strengthened in North America, with the company now holding contracts with three of the top five operators, and it is exploring opportunities beyond telecommunications, venturing into financial services. The company maintains a positive outlook for 2024, with analyst forecasts suggesting a 16% revenue growth, a target already surpassed in Q1 with a 20% growth. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com

April 15, 2024 01:42 PM Eastern Daylight Time

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CoverSelf appoints Ashish Singh, Advisory Partner at Bain & Company, as Board Director

CoverSelf

CoverSelf, a unified platform for healthcare claims and payment integrity, is today announcing the appointment of Ashish Singh, Advisory Partner at Bain & Company, as Board Director. This development comes on the heels of the company’s recent close of a $8.2 million seed round. Ashish is a well-known and deeply respected Bain & Company leader. He led Bain’s global Healthcare and Life Sciences (HLS) practice from 2012 to 2018 and served two terms on Bain’s global Board of Directors in the same time period. Ashish also founded Bain & Company’s India office and was at its helm as Managing Director (2005-2011) and Chairman (2011-2014). Over the years, he also co-founded Bain’s Enterprise Software, Media & Entertainment, Pharmaceutical and Payer practices. Ashish’s expertise lies in corporate and BU strategies, market entry strategies, operational improvement, organisational effectiveness, M&A, healthcare IT, and large-scale corporate transformation programs. “We are thrilled to welcome Ashish onboard as our Board Director. He is a veteran in this space and brings invaluable experience in formulating overall strategy and US GTM strategy, as well as in-depth knowledge of the US healthcare system and health plans. Not to mention, his broad network of relationships across the industry will benefit us in the long term,” said Rajasekhar Maddireddy, Co-founder of CoverSelf. “We’ve been busy since our funding announcement. We are already live as the secondary editor in three health plans, with an expansion to another four over the next six months in the works. We are in full-scale implementation with a top 10 health plan, and executing a PoC with a Top 5 health plan. These are showing remarkable results, wherein the platform is processing 25 times more claims in the same time window than was done earlier. We will soon start initial moves into markets adjacent to the payment integrity (PI) space via collaboration with a focused set of partners to bring broader integrated solutions to our clients.” CoverSelf was founded in 2021 by US healthcare domain experts Rajasekhar Maddireddy and Raghavendra Pawar to tackle the ever-increasing claims inaccuracies and waste. The company aims to democratize the healthcare claims and payment integrity industry by creating a first-of-its-kind, fully open and transparent solution that empowers payment integrity teams in health insurance companies (payers) to transparently resolve health claims with hospitals and medical practices (providers). CoverSelf’s purpose-built platform utilizes multiple approaches, including the smart use of GenAI, to reduce waste while identifying new savings opportunities. The platform empowers payers to adapt to claims and payment inaccuracies by enabling them to configure their policies and logic in simple English-like language or use simple policy-specific templates, overcoming the fear of losing IP and fostering innovation and new concept releases without technical dependencies. “According to recent reports, the $9 billion PI industry has grown at around 7% CAGR in recent years. This just shows the inherent complexity of the billing processes. The truth is, over the years, there has been a perceptible negative impact on providers' experience with payments, and trust in payers has taken a significant hit. This has resulted in ballooning waste and improper payments. Given this scenario, I’m glad to lend a helping hand to CoverSelf’s mission,” said Ashish Singh, Board Director of CoverSelf. “I will work closely with the co-founders and top management to increase Coverself's visibility amongst healthcare payers and technology partners and also bring my expertise to assist them in corporate and market strategy. What we are doing in CoverSelf is not just building a product that is looking to solve a few pain points; we are on a once-in-a-lifetime mission to truly democratize healthcare claims and payment integrity and restore faith in the US’s healthcare ecosystem!” About CoverSelf CoverSelf is a generational leap forward in healthcare claims and Payment Integrity architecture, built from the ground up for healthcare-specific use by passionate domain experts and strong technology professionals with decades of experience in addressing the pain points faced by Providers and Payers when dealing with the latest technological advancements. Founded in 2021, CoverSelf’s Payment Integrity Platform engages modern technologies to address payment leakage & claims inaccuracies while remaining transparent & accessible to Payers. The platform empowers payers to prevent and adapt to the ever-evolving claims & payment inaccuracies. We also help you reduce complexity and administrative costs with our unified healthcare dedicated platform. Contact Details CoverSelf Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.coverself.com/

April 15, 2024 09:59 AM Pacific Daylight Time

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