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PR Newswire

Rey Announces $10 Million in New Series A Funding to Expand Access to Mental Health through Digital Capabilities

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Led by Optum Ventures and Oxford Sciences Innovation, new funding will propel Rey’s launch of a tech-enabled, on-demand mental health clinic in response to growing demand for high-quality care in an increasingly resource constrained market

AUSTIN, Texas, July 31, 2021 — Rey, a new mental health and wellness company integrating immersive tools and digital interventions with teletherapy, today announced $10 million in new funding, increasing their Series A to a total of $26 million with the round led by Optum Ventures and Oxford Sciences Innovation.

Deepak Gopalakrishna CEO & Founder / Mike Desjadon, Chief Commercial Officer. Photo courtesy of Rey
Deepak Gopalakrishna CEO & Founder / Mike Desjadon, Chief Commercial Officer. Photo courtesy of Rey

The new funding will help Rey expand its consumer reach and provide more people with access to care through personalized services and leading-edge technology. Rey will also absorb OxfordVR and bring to market clinically validated virtual reality (VR) and digital treatments for Phobias, Psychosis, Post-Traumatic Stress Disorder, and Social Avoidance.

"Mental and behavioral health care is rapidly becoming destigmatized, which is great. But that means there is a growing need and reliance on providers to provide this care, which may drive up costs," said Mike Desjadon, chief commercial officer of Rey. "Through our innovative digital care approach, we can flip the script and provide more personalized care at an affordable price to treat a variety of mental health needs."

Launched in April 2021, Rey is working to improve mental health and wellness by combining cognitive behavioral therapy, talk therapy, medication, and clinically validated tech tools, such as VR, to care for people in new ways.

OxfordVR, was founded in 2017 by Dr. Daniel Freeman, Professor of Clinical Psychology at Oxford University. Dr. Freeman pioneered the use of VR in severe mental illness for more than two decades and is the senior scientific advisor to Rey for development of new automated therapeutics. Potential future treatments include Obsessive-Compulsive Disorder and Substance Use Disorder.

"With a big focus on the expansion of online mental health services, the challenge now is for companies to meet the demand," said Deepak Gopalakrishna, founder and chief executive officer of Rey. "We’re integrating validated and innovative therapeutic tools with well-trained providers to ensure people have access to the high-quality care they need while keeping costs low and preventing provider burnout."

To learn more, visit www.getrey.com.

About Rey

Rey is a membership-based, on-demand mental health company on a mission to revolutionize mental health and wellness by improving access to personalized services through technology. Rey combines proven therapeutic interventions, like cognitive behavioral therapy, with clinically validated tools, like virtual reality, to care for a wide range of member needs in new and novel ways. Powered by OxfordVR, a spin-out of Oxford University and a leader in leveraging technology to deliver proven treatment tools in immersive environments, Rey is arming care teams with the tools they need to bring world-class treatments directly to members’ homes. To learn more visit www.getrey.com.

About Optum Ventures

Optum Ventures is the independent venture fund of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. Optum Ventures invests in digital health companies that use data and insights to help improve consumers’ access to health care services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. For more information, visit www.optumventures.com.

Oxford Sciences Innovation 

Oxford Sciences Innovation is a science business builder. We build world-changing businesses, bringing Oxford science to the world faster. Since 2015, we have worked with over 200 of Oxford’s leading academics to build a portfolio of more than 100 companies, worth over $2 billion, all based on Oxford science, created +1,500 new jobs and added +55,000 square-feet of laboratory and startup space; building on Oxford’s renowned research legacy to create a leading science ecosystem. A place where scientific breakthroughs become world-changing businesses. Our portfolio of companies spans four sectors, Life Sciences, Deep Tech, Health Tech and Software & AI, tackling challenges like the diagnosis and treatment of devastating rare diseases and cancer, sustainability, nuclear fusion, quantum computing and cyber-security. For more information, visit www.oxfordsciencesinnovation.com. 

Media Contact:
Meredith Good-Cohn
meredith@oxfordvr.org  
(443) 797-2996

 

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PR Newswire

Kasisto Announces Series C Funding to Fuel Rapid Growth, Powering the Financial Services Industry with Cutting Edge Conversational AI Technology

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$15.5 Million Round Co-Led by Naples Technology Ventures and NCR Corporation

NEW YORK, July 28, 2021 — Kasisto, creators of KAI, the leading digital experience platform for the financial services industry, today announced the close of its $15.5 million Series C funding round. The round was co-led by new investors Naples Technology Vendors (NTV) and NCR Corporation with continued participation from Kasisto’s current investors, bringing the company’s total funding to date to $67 million by its industry leading group of investors.

The global conversational AI market is expected to grow from $4.2 billion to $15.7 billion by 2024* with a compound annual growth rate (CAGR) of 30.2%. The financial services industry is one of the leading sectors driving the adoption of conversational AI, with a growing demand from banking customers for frictionless, intelligent, and hyper-personalized digital experiences. The Intelligent Digital Assistant has emerged as the cornerstone of the digital banking experience, with Kasisto and its conversational AI powered platform, KAI, delivering the cognitive banking experience to more financial institutions than any other conversation AI vendor in the sector.

"The intelligent digital assistant has quickly become the centerpiece of the digital servicing and engagement strategy across the financial services industry. With KAI consistently delivering 85% containment rates, 50% reduction in customer service costs and 400% increase in digital engagement Kasisto is leading the charge to reshape this crucially important digital banking experience," said Zor Gorelov, CEO, Kasisto. "We are extremely appreciative of the support and confidence of our investors, customers and partners who continue to believe in  Kasisto’s vision. Most importantly, I want to share my deep gratitude to all Kasisto staff who have made our journey possible, and through their hard work, creativity and dedication we have found our way to this important moment in our company’s history." 

As the financial services industry is quickly making the digital experience its top priority, this funding enables Kasisto to accelerate its growth, with investments in sales, business development, marketing, strategy, and customer success functions. Naples Technology Ventures will contribute its expertise and deep knowledge of the financial services industry to help Kasisto meet the demands of its rapidly growing market. NCR Corporation, which is also a Kasisto strategic business partner, will continue to distribute KAI to its digital banking customers while helping Kasisto to develop a broader product portfolio and partner ecosystem.

"We are committed to a digital first strategy for banking that delivers innovation and amazing customer experience throughout their entire journey across all channels," said Michael D. Hayford, president and chief executive officer, NCR Corporation. "Our investment in and partnership with Kasisto provides us an opportunity to personalize experiences leveraging their AI capabilities to deliver differentiated value for our clients."

"NTV focuses on SaaS companies that are effectively leveraging advanced technologies such as AI to solve critical business problems. It was clear to the NTV team from the start that Kasisto fit this profile, but at the same we recognized how Kasisto is helping to reshape the digital experience across the financial services industry which is driving previously unimaginable outcomes across their client base. We are excited to join the Kasisto team and make this important investment." said Mike Abbaei, Co-Founder & Managing Partner, Naples Technology Ventures.

Mike Abbaei will be joining the Kasisto board and will work closely with other board members as Kasisto accelerates its rapid growth across the financial services industry.

To learn more about this important announcement and understand how Kasisto is helping to reshape the digital engagement strategy of financial institutions of all sizes, across the industry, and across the globe, read Zor’s blog at: https://kasisto.com/blog/

About Kasisto

KAI is the leading digital experience platform for the financial services industry. Kasisto’s customers include J.P. Morgan, Westpac, Standard Chartered, TD, Manulife Bank, and credit unions such as Fairwinds and Excite – and many more. These financial institutions chose KAI for its proven track record to drive business results while improving customer experiences. The platform is engaging with millions of consumers around the world, all the time, across multiple channels, in different languages, and is optimized for performance, scalability, security, and compliance. KAI is built with the deepest Conversational AI portfolio in the industry. Kasisto is headquartered in New York City, with offices in Silicon Valley and Singapore. Kasisto Singapore Pte Ltd is a wholly-owned subsidiary of Kasisto. For more information visit kasisto.com. Follow Kasisto on Twitter, LinkedIn and Facebook.

About Naples Technology Ventures

Naples Technology Ventures is a Venture Capital Firm that invests in early-stage technology and services companies. NTV looks for companies that show strong value-add and demonstrate being in emergent and/or expanding markets with both Software-As-A Service (SaaS) and/or a Services-based model. For additional information, visit www.naplestechnologyventures.comor email us at contact@naplestechnologyventures.com

* Source: Markets and Markets

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Osome Raises a $16M Series A to Expand its AI-based Accounting Platform to Global Markets

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SINGAPORE, June 18, 2021 — Osome, a super-app that digitizes accounting and compliance services for SMEs, has raised $16M in a Series A funding from a group of investors including Target Global, AltaIR Capital, Phystech Ventures, S16VC, and Peng T. Ong, an angel investor. The capital enables Osome to expand its footprint internationally, as well as to fuel product integrations. 

"Back-office operations are annoying, tedious yet mission critical for businesses, especially for SMEs. Remarkably, an average entrepreneur spends 68% of their time to deal with routine tasks vs 32% to strategize and deliver on their long term goals. Osome combines artificial intelligence software with operational excellence to automate administrative, accounting, payroll and tax-related work and help entrepreneurs focus on what they can do the best – growing their business", Victor Lysenko, co-founder and CEO of Osome, says. "We strive to build a future where small business owners can fully rely on the technology in their administrative routine".

The demand for Osome services has accelerated with COVID-19 as clients recognized the importance of automation. This has led to more than 100% YoY revenue growth and $9.5M ARR with over 6,000 happy customers in Hong Kong, Singapore, and the UK. Additionally, the company has identified a product / market fit in the fast-growing e-commerce segment and will double down on it in the next 18 months. 

Osome’s core offering is online accounting services for SMEs, especially those involved in e-commerce — аccountants take over the documents and convert them into actionable numbers, tax filings and reports, making accounting and bookkeeping service for online sellers as simple as ever.

The company also helps with business set up and provides corporate secretary services — Osome checks compliance, tracks deadlines, files documents, and answers questions in a chat at any time of the day or week. The platform categorises and stores any documents users send, so nothing is lost, and then creates and files reports on time. 

"We have supported Osome since the early days and are excited to continue our partnership in the latest round. We are especially happy about the strong growth Osome has shown in the expanding e-commerce segment. Online Sellers require unique tools and custom approaches to be serviced effectively and Osome’s mix of technology and human expertise is the perfect solution", says Mike Lobanov, GP & COO of Target Global.

Media Contact:

Safiah Alias
safiah@osome.com
+65-6589-8807

PR Newswire

Red Date Technology, Architect Behind the Blockchain-based Service Network (BSN), Closes Landmark ‘Series A’ Funding

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USD30 Million Series A Equity Financing Led by Global Investors Prosperity7 Ventures and Kenetic

HONG KONG, June 10, 2021 — Red Date Technology, the architect behind the world’s largest blockchain connectivity network, the Blockchain-based Service Network (BSN), announced that it has completed USD 30 million Series A equity financing.

The round was led by Prosperity7 Ventures (the diversified growth fund of Aramco Ventures), and Hong Kong-based blockchain investment firm Kenetic. Other participants include Bank Pictet (Switzerland), investing on behalf of its clients, and Bangkok Bank.

According to Aysar Tayeb, Executive Managing Director of Prosperity7 Ventures, "The BSN is a pioneering initiative that can accelerate both the development and adoption of blockchain technology and applications. We are thrilled to support Red Date and be a part of the BSN initiative and the positive value it will create."

The BSN is a global network enabling connectivity between public and private blockchains. It reduces the cost and improves flexibility, interoperability and efficiency, making blockchain services accessible to SMEs and individual developers worldwide.

According to Yifan He, CEO of Red Date, "The Internet’s Golden Age was only made possible when the cost of building websites was reduced to near zero. The BSN makes the cost of creating and running applications exceptionally low, with the added benefit of multi-frameworks and interoperability, and larger customer bases."

"The BSN is the foundation of global blockchain adoption and will succeed through an alliance of public and private partnerships and technologies, supported by a world-class engineering team and unprecedented enterprise and sovereign backing." noted Jehan Chu, Founder and Managing Partner of Kenetic.

The BSN International, the governing body of the global network outside China, will be established as a Singapore-based foundation and governed by a consortium of multinational corporations and financial institutions to ensure the global network is operated by international standards. Separately, the BSN Development Association of China will operate and manage the domestic network onshore in full compliance with local laws and regulations.

As part of its commitment to transparency, the BSN codebase will be fully open sourced within the foundation in the coming months and to the public within 3 years.

"For BSN to succeed globally, BSN International’s governance and development must be open and transparent, which is an area where our international shareholders and partners can provide strong support." He added.

PR Newswire

MarTech Startup Affable.ai Raises USD 2M to Boost the Adoption of its Influencer Marketing Platform

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Investors: Prime Venture Partners, Decacorn Capital, SGInnovate

BENGALURU, India and SINGAPORE, May 18, 2021 — Singapore-based Martech startup, Affable.ai has raised USD Two Million from Prime Venture Partners, Decacorn Capital & SGInnovate. Affable’s AI-driven, Self-service SaaS platform helps brands and agencies run high impact influencer marketing campaigns. Affable brings transparency and analytics to influencer marketing and is being used by over 45 top brands and agencies including Huawei, Wipro, Pomelo, Fresh, Omnicom, Dentsu, and We Communications. The company tracks more than Three Million Influencers across Instagram, Facebook, YouTube, and TikTok. With the fresh funding, Affable plans to expand into international markets such as the U.S.

Affable Team Members
Affable Team Members

Affable was founded by Nisarg Shah and Swayam Narain in 2017 as part of the Entrepreneur First cohort. The end-to-end Influencer Marketing Platform allows brands and agencies to streamline their influencer strategies throughout the planning, discovery, activation, and reporting phases. Affable uses advanced machine learning and big data analytics to help brands find influencers, manage and measure campaign performance. With the influencer marketing process being extremely manual, time-consuming and completely based on guesswork, Affable provides brands with data-driven insights and analytics to help streamline their micro-influencer marketing process. 

A global rise in digital consumption continues to propel influencer marketing campaigns among brands across all sectors. Being a mobile-first region along with its youthful demography and growing popularity of social platforms, Southeast Asia has become an ideal ground for influencer marketing to flourish and the market is estimated to reach $2.59 billion by 2024. Globally, the industry is very bullish and is pegged to reach $15 billion by next year. A primary reason for this growth is largely attributed to the large numbers of internet users and majority of them using smartphones. Furthermore, the COVID-19 pandemic has sped up the influencer marketing wave across the world. Cooped up at home, users are spending more time on social networking, gaming, and watching OTT content. The huge amounts of time spent online has prompted brands to work more with social media influencers on platforms such as YouTube, Facebook, and Instagram to connect with their consumers. Subsequently, Micro-influencers/ Micro-celebrities can drive a much higher reach at a much lower cost.

However, with up to 6X ROI on micro-influencer marketing budgets, brands are still struggling to find relevant influencers and measure their effectiveness. Traditionally, the influencer marketing process involves finding influencers, vetting audience quality, tracking & measuring results manually. Affable has not only made this process automated but also intelligent by building proprietary algorithms around its data infrastructure where it uses advanced ML and image processing models for an accurate influencer-brand mapping and measuring campaign ROIs. The platform detects fake followers, discovers follower interests and classifies social media users based on brands, fan pages etc. Affable indexes all the social media users and identifies potential influencers that a brand could work with. Using Affable, marketers can find influencers, manage them campaign-wise, and measure post-campaign analytics such as engagement from in-target audience, influencer success(as a group and individually), measure the overall effectiveness of the campaign, as well as measure clicks and sales.

Including the current funding round, Affable has raised USD 2.8M from Prime Venture Partners, Decacorn Capital, SGInnovate, Entrepreneur First and strategic angel investors. Headquartered in Singapore, the startup has 20 employees working remotely across different geographies.

Supporting Quotes

Nisarg Shah, CEO and Co-founder, Affable.ai

"We see a huge opportunity in working with brands to enable the much needed, data-driven influencer marketing campaigns. The industry-leading brands and agencies we work with reinforce our belief in the need for analytics to streamline the micro-influencer marketing process. Prime brings a depth of experience in scaling global SaaS companies, operational expertise, as well as a strong network that we can leverage during our growth phase and we are very excited to partner with them. At the same time, participation from our existing investors is a great endorsement for us."

Shripati Acharya, Managing Partner, Prime Venture Partners

"Data-driven analytics is the need of the hour in the influencer marketing ecosystem which is a new and upcoming marketing channel and has picked up steam in the last 3-5 years. We believe that Influencer marketing will become a mainstream marketing channel for brands with a significant budget allocation. Affable’s tech differentiation will transform the way brands and agencies interact with micro-influencers and celebrities, ensuring they get maximum RoI from their marketing campaigns. We are excited by the demand and the potential for this service and are delighted to back founders who are extremely passionate and have deep expertise in this field."

Debneel Mukherjee, Managing Partner, Decacorn Capital

"As the lead investor in Affable’s seed round, Decacorn believes that ‘prime-time’ has arrived in the AI driven influencer marketing space to effectively monetize the hyper social behavioral changes in the post millennials. We are glad to have worked closely with the Affable team over these past two years in scaling their business from a product-market fit stage to a rapidly growing 6-digit MRR as on date. In order to help Affable scale beyond Asia into the holy grail of the USA we have ponied up in Affable to the fullest extent."

About Affable

Affable is an end-to-end Influencer Marketing Platform used by leading global brands to find, manage, monitor and measure influencers seamlessly. The platform allows brands to discover, engage and measure social media influencers. Affable is developing Artificial Intelligence algorithms that profiles influencers and their audience across social media channels such as Instagram, YouTube, Twitter, Facebook etc. Affable was founded by Nisarg Shah and Swayam Narain in 2017 as part of the Entrepreneur First cohort. For further information, please visit: https://www.affable.ai/.

 

IMH Estimated Influencer Marketing Growth (YOY)
IMH Estimated Influencer Marketing Growth (YOY)

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PR Newswire

China Distance Education Holdings Limited Announces Shareholders’ Approval of Going-Private Transaction

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BEIJING, Feb. 26, 2021 — China Distance Education Holdings Limited (NYSE: DL) (the "Company"), a leading provider of online education and value-added services for professionals and corporate clients in China, today announced that at an extraordinary general meeting (the "EGM") held today Beijing Time, the Company’s shareholders voted at the EGM to authorize and approve (i) the previously-announced agreement and plan of merger (the "Merger Agreement"), dated as of December 1, 2020, by and among the Company, Champion Distance Education Investments Limited ("Parent"), and China Distance Learning Investments Limited ("Merger Sub"), a wholly-owned subsidiary of Parent, pursuant to which Merger Sub will be merged with and into the Company (the "Merger"); (ii) the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") for the purposes of the Merger; and (iii) the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger.

Approximately 96.6% of the total outstanding ordinary shares ("Ordinary Shares") of the Company were voted in person or by proxy at the EGM. Of the Ordinary Shares voted at the EGM, approximately 67.4% were voted in favor of the Merger Agreement; the Plan of Merger; and the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger. The affirmative vote of at least two-thirds of the ordinary shares present and voting in person or by proxy at the EGM was required for approval.

The Company and the other parties to the Merger Agreement currently expect to proceed expeditiously to complete the Merger, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. Upon completion of the Merger, the Company will survive as a wholly-owned subsidiary of Parent; the American depositary shares (the "ADSs") of the Company, each of which represents four Ordinary Shares, will no longer be listed on The New York Stock Exchange; the ADS program will terminate; and the ADSs and the Ordinary Shares will cease to be registered under Section 12 of the Securities Exchange Act of 1934.

Safe Harbor Statement

This announcement contains forward-looking statements. Any such statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "may," "should," "potential," "continue," "expect," "predict," "anticipate," "future," "intend," "plan," "believe," "is/are likely to," "estimate," and similar statements. The Company may also make written or oral forward-looking statements in its periodic and annual reports to the SEC, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Risks and uncertainties include the possibility that the Merger will not occur as planned if events arise that result in the termination of the Merger Agreement, if one or more of the various closing conditions to the Merger are not satisfied or waived,  and other risks and uncertainties regarding the Merger Agreement and the Merger that are discussed in the proxy statement included as part of the Schedule 13E-3 transaction statement filed with the SEC on January 29, 2021 by the Company and the other filing persons named therein. The Company does not undertake any obligation to update any forward-looking statement or other information included in this press release, except as may be required by applicable law.

About China Distance Education Holdings Limited

China Distance Education Holdings Limited is a leading provider of online education and value-added services for professionals and corporate clients in China. The courses offered by the Company through its websites are designed to help professionals seeking to obtain and maintain professional licenses and to enhance their job skills through our professional development courses in China in the areas of accounting, healthcare, engineering & construction, legal and other industries. The Company also offers online test preparation courses for self-taught learners pursuing higher education diplomas or degrees, and practical accounting training courses for college students and working professionals. In addition, the Company provides business services to corporate clients, including but not limited to tax advisory and accounting outsourcing services. For further information, please visit http://ir.cdeledu.com.

Contacts:

In China:
China Distance Education Holdings Limited
Jiao Jiao
Tel: +86-10-8231-9999 ext. 1826
Email: IR@cdeledu.com

The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: dl@tpg-ir.com

In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 212-481-2050
Email: dl@tpg-ir.com

PR Newswire

Personetics secures a $75 million investment from Warburg Pincus to accelerate the global expansion of its AI-driven personalization and engagement solutions for financial institutions

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– Over 95 million bank customers now ‘self-driving’ their finances with Personetics

– Banks reaping the rewards with an up to 35% increase in mobile app engagement and 20% increase in customer account and balance growth

– The global market for financial services personalization solutions is valued at $13 billion

LONDON and NEW YORK and TEL AVIV, Israel, Feb. 16, 2021 — Personetics, the leading global provider of data-driven personalization and customer engagement solutions for banks and financial services providers, today announced it has raised $75m in growth funding from Warburg Pincus LLC, a leading global private equity firm focused on growth investing. Personetics is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners. Terms of the transaction were not disclosed.

Personetics offers a proprietary AI software platform to leading banks around the world. Its software touches more than 95 million personal banking customers and analyzes billions of transactions daily. Personetics analyses customer financial data and behavior in real-time, with the data staying safely inside the bank’s ecosystem so that confidentiality is guaranteed.

Banks use Personetics’ agile tools and its low-code Engagement Builder, a Creation & Management Console, to quickly modify hundreds of pre-programmed insights and build customized user journeys. This empowers banks to share real-time personalized insights and advice, as well as automated, self-adjustable financial wellness programs across its customer base comprising both individual banking customers and small businesses.

Financial institutions increasingly recognize the importance of value-driven and proactive digital engagement with their customers and must offer exceptional customer service to retain customer loyalty, whilst exploring ways to monetize these relationships. Operating in a global market worth circa $13 billion, Personetics’ business solutions have become the global market standard and are successfully delivering the vision of ‘self-driving finance’.  

The benefits and ROI of providing data-driven, hyper-personalized, engagement to every customer interaction are immediate and substantial. Banks using the Personetics AI software are seeing an up to 35% increase in digital customer engagement, a 20% increase in an account and balance growth and a 15% increase in the adoption of personalized product recommendations and advice.

Flagship clients include many of the worlds leading banks, such as U.S. Bank (US), RBC (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea) and MUFG (Japan).

David Sosna, CEO and Co-Founder of Personetics, said:
"The financial services industry is reaching a tipping–point in mobile adoption and setting a new standard in Smart Personalized Engagement. Personetics has set out down this path and has launched its vision of Self-Driving Finance.  We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions. We are very excited to be partnering with Warburg Pincus on this journey."

Peter Deming, Managing Director at Warburg Pincus and Head of Financial Services across EMEA, said: "Personetics leverages an unrivaled AI technology which is badly needed by established banks as they seek to differentiate themselves in a crowded market and match the customer experience of the Neobanks and FinTech apps. David and his team have built the perfect solution for the post-COVID banking distribution model and already secured a world-class client base. Through the combination of our financial backing and Warburg Pincus’ extensive global network across financial services, Personetics can distribute its unique technology into banks all over the world."

Adarsh Sarma, Co-Head of Europe at Warburg Pincus, said: "Israel continues to offer innovative, high growth investment opportunities across technology, financial technology and financial services, all sectors of particular interest to Warburg Pincus. We have committed almost $700 million of equity to businesses in Israel since our founding which is a testament to the talent and innovation that the country has fostered.  In spite of the global pandemic, Israel is very much open for business and we look forward to a fruitful and successful partnership with Personetics."

Avi Zeevi, Co-founder of Viola Ventures and Personetics’ Chairman, said: "We are happy to join forces with Warburg Pincus, a renowned international investor with an extensive global network and track record of success in the financial services and FinTech sectors. This is further proof of Israel’s ability to generate leading global FinTech companies and for Personetics’ immense potential for disruption across the global banking ecosystem."

Enquiries:

Warburg Pincus:                             Julie Foster +44 7471 992907
Personetics:                                    Dorel Blitz +972 50 3837377, dorel.blitz@personetics.com

About Personetics:
Focused on enabling proactive engagement for banks, Personetics’ AI analyzes financial data in real-time to understand customer financial behavior, anticipate customer needs and deliver a hyper-personalized experience. With solutions designed for the mass market, wealth management, and small business customers, the technology enables banks to offer day-to-day insights, financial advice, and automated wellness programs to customers. Banks use Personetics’ agile tools to rapidly create their own personalization IP to serve the unique needs of their customers and differentiate themselves in a crowded market. With these advances, banks have transformed their digital banking into the center of the customers’ financial lives while also delivering significant business impact.

Led by a team of seasoned financial and technology entrepreneurs, Personetics strives to actualize a world of "Self-Driving Finance" where banks proactively act on behalf of their customers – a win-win for customers and banks alike. Founded in 2011, Personetics operates through offices in New York, London, Paris, Singapore and Tel Aviv. To learn more, visit www.personetics.com.

About Warburg Pincus:
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $58 billion in private equity assets under management. The firm’s active portfolio of more than 195 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value.

Since the firm was founded in 1966, Warburg Pincus has invested $21 billion in Fintech and Financial Services companies such as Metavante/FIS, Avaloq, Clearwater Analytics, WEX, and Kotak Mahindra Bank, and $20 billion in Technology businesses including Crowdstrike, Avalara and BEA Systems. To date, Warburg Pincus has invested almost $700 million in Israel. 

Warburg Pincus has raised 19 private equity funds, which have invested more than $89 billion in over 920 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.

For more information please visit www.warburgpincus.com.

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Thailand 2020 Investment Applications at Over 480 Billion Baht, Led by E&E and Food, BOI Says

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BANGKOK, Feb. 10, 2021 — The Thailand Board of Investment (BOI) said today that local and foreign investors had in 2020 filed a total of 1,717 applications for investment promotion, representing a combined investment value of 481.1 billion baht (USD16 billion), led by projects in the electric and electronics and the agriculture and food processing sectors, and a surge in the medical sector.

Ms Duangjai Asawachintachit, Secretary General of the Thailand Board of Investment (BOI) spoke to reporters in Bangkok on 10 February 2021 after a board meeting which approved incentives for the public listing of BOI-promoted companies and acknowledged the 2020 investment applications report.
Ms Duangjai Asawachintachit, Secretary General of the Thailand Board of Investment (BOI) spoke to reporters in Bangkok on 10 February 2021 after a board meeting which approved incentives for the public listing of BOI-promoted companies and acknowledged the 2020 investment applications report.

"The coronavirus outbreak represented both a challenge and an opportunity, and while the overall economy registered a slowdown in 2020, businesses that can continue to expand during the crisis, such as the medical sector, witnessed an increased number of investment applications," Ms Duangjai Asawach, Secretary General of the BOI, told reporters. "The number of projects and the investment value reflect the success of the investment promotion measures we took in the past year to answer the needs of the market, especially in the medical masks, hygiene products, and medical rubber gloves segments."

Applications for projects in the target industries, sectors of strategic importance for the country’s economic development, amounted to 230.7 billion baht, or 48% of the total value of applications. The top five sectors by value were: 1) electrical appliances and electronics with 50.3 billion baht worth of applications; 2) Agriculture and food processing with 41.1 billion baht; 3) automotive and parts with 37.8 billion baht; 4) Petrochemicals and Chemicals with 36 billion baht; and 5) Biotechnology with 30 billion baht.

The medical sector saw a noticeable increase of the value of applications which grew 165% from 2019 to 22.3 billion baht as a result of specials incentives offered by the BOI to this industry in support of Thailand’s efforts to manage the Covid-19 crisis. Investments in this sector came from both large companies and SMEs.

In regard to Foreign Direct Investment (FDI), some 907 project applications were filed in 2020 worth a total investment value of 213.2 billion baht. The FDI were led by Japanese companies, which topped the ranking both in terms of the number of applications, 211 projects, and in terms of combined investment value, 75.9 billion baht. Investments from China came in second with 31.5 billion baht investment value, followed by US with 24.6 billion baht investment value.

The Eastern Economic Corridor, or EEC area, which comprises the provinces of Chonburi, Rayong and Chachoengsao, attracted 453 projects applications filed by both local and foreign investors, worth a combined investment value of 208.7 billion baht.

Renewal of the measures to encourage the public listing of BOI-promoted companies

At a board meeting chaired by Prime Minister Gen Prayut Chan-ocha today, the BOI approved to renew the incentives offered to BOI-promoted companies to list on the Stock Exchange of Thailand (SET) or the Market for Alternative Investment (MAI) in order to get access to new funding sources, while participating to strengthen Thailand’s capital market and economy.

The scheme grants companies going public an additional 100% corporate income tax (CIT) exemption on the value of their investment (excluding cost of land and working capital). Projects which have already been granted BOI promotion and have started to generate income can still apply for these additional privileges and benefits on the condition they still have valid CIT exemption rights.

To be granted these additional privileges and benefits, companies must submit their applications by the end of December 2022. The companies must get listed on the SET or MAI before applying for promotion, but companies listed prior to the announcement of the measure are not eligible to this scheme.

For more information, please contact:

Thailand Board of Investment
Tel. +66 (0) 2553 8111
Website: www.boi.go.th
YouTube: Think Asia, Invest Thailand

Related Links :

http://www.boi.go.th/

PR Newswire

Replika Software Secures Series A Financing from LVMH Luxury Ventures and L’Oréal BOLD Ventures to Power the Future of Social Selling

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NEW YORK, Jan. 27, 2021 — Replika Software, the turnkey social selling solution enabling brands to empower their networks of social sellers to inspire and sell online, has completed its Series A financing round with LVMH Luxury Ventures and L’Oréal BOLD, both investment arms of their parent companies. The funding will enable Replika to aggressively expand its global footprint of brands and industries which can significantly benefit from creating new social selling channels. With this financing, the company plans to continue investing in its technology, introduce new breakthrough features and add to their team to support the rapid adoption of the platform. Representatives from LVMH Luxury Ventures and L’Oréal BOLD (Business Opportunities for L’Oréal Development) will be a part of Replika’s Board of Directors.

Replika Software Secures Series A Financing from LVMH Luxury Ventures and L’Oreal BOLD Ventures to Power the Future of Social Selling
Replika Software Secures Series A Financing from LVMH Luxury Ventures and L’Oreal BOLD Ventures to Power the Future of Social Selling

Kareen Mallet, Co-founder of Replika Software, said, "When we founded Replika, we envisioned a future where every brand would be able to benefit from the power of social selling. After concluding commercial arrangements with several Maisons of LVMH and brands of L’Oréal, it is tremendously satisfying to see that the investment arms of two of the world’s most forward-thinking companies have decided to invest in our vision. We’re thrilled to have their support as we enter this phase of growth and lead the industry towards humanizing online shopping."

Replika’s relationship with LVMH started in 2019 when the group discovered and selected the solution to be highlighted at the Vivatech Innovation Awards.  The company was then invited to participate in LVMH’s accelerator, "La Maison des Startups", at Station F and their business relationship has continued to expand ever since, with deployments in both Europe and the US. The journey with L’Oréal began when their Chief Digital Officer, Lubomira Rochet, a true advocate of Social Commerce, identified Replika out of over 1,000 startups exhibiting at Vivatech and she has continued to pave the way within the organization for brand deployments across all divisions, in countries around the world.

"The Series A financing builds on an exceptional year for Replika. We were able to rapidly grow a roster of clients across several verticals, introduced important programming and feature upgrades, while solidifying our management team with key executive appointments.  We believe this funding will help us shift the current online selling paradigm, not only in the fashion and beauty industries, but in the broader healthcare, entertainment, travel and electronics industries as well," -said Corey Gottlieb, Co-founder.

About Replika Software

Replika Software is an award-winning turnkey social selling software that enables brands to activate their network of social sellers to sell online, inspire on social media and connect with consumers anytime, anywhere. The company is based in New York and Paris, at Station F. with La Maison Des Startups/LVMH. Former Fashion Director from Neiman Marcus & Bergdorf Goodman, Kareen Mallet, along with Advertising Executive & Serial Entrepreneur, Corey Gottlieb, founded the company in 2016.   To learn more visit www.replikasoftware.com.

CONTACT: media@replikasoftware.com

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Related Links :

http://www.replikasoftware.com

PR Newswire

CooTek Announces Entering Into A Combined Financing Package

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SHANGHAI, Jan. 25, 2021 — CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), a fast-growing global mobile internet company, today announced that it entered into a combined financing package with YA II PN, Ltd., a Cayman Islands exempt limited partnership managed by Yorkville Advisor Global, LP (the "Purchaser"), including (1) a securities purchase agreement and a convertible note (the "Note") dated January 19, 2021, pursuant to which the Company issued and sold a Note in an aggregate principal amount of US$10.0 million to the Purchaser, and (2) a standby equity distribution agreement (the "SEDA") dated January 22, 2021, pursuant to which the Company would be able to sell up to US$20.0 million of its ADSs solely at the Company’s request any time during the 36 months following the date of the SEDA.

The Note bears interest at a rate of 5% per year, and will mature upon the one-year anniversary of the issuance date, being January 19, 2022 (the "Maturity Date"), unless redeemed or converted in accordance with its terms prior to such date. The principal amount and accrued interest shall be convertible into the Company’s Class A ordinary shares, which may be further converted into American depositary shares of the Company (the "ADSs"). Subject to and upon compliance with the terms of the Note, the Purchaser has the right to convert all or any portion of the outstanding amount under the Note at its option at any time prior to the Maturity Date. The conversion price shall be the lower of (1) US$4.20 per ADS, or (22) 88% of the lowest daily volume weighted average trading price of the Company’s ADSs during the ten consecutive trading days immediately preceding the conversion date or other date of determination, but not lower than the floor price as prescribed in the Note, subject to adjustment from time to time pursuant to the terms and conditions of the Note. The purchaser’s right to convert any portion of the Note or otherwise receive ADSs or Class A ordinary shares thereunder is subject to certain ownership limitations as provided under the Note. Pursuant to the Note, the Purchaser shall not sell such number of ADSs in any calendar month that would result in gross proceeds received by it in excess of the greater of (1) 30% of the dollar trading volume during such calendar month or (2) US$1,700,000, which shall not apply with respect to any sales of the ADSs at prices greater than or equal to US$4.20 per ADS. The Purchaser has also agreed under the securities purchase agreement that it shall not directly or indirectly, engage in any short sales involving the Company’s securities during the period commencing on the date thereof and ending when no convertible note remains outstanding.

Pursuant to the SEDA, the ADSs would be purchased at 90% of the market price, which is defined as the lowest daily volume weighted average price of the Company’s ADSs during the five consecutive trading days commencing on the trading day following the date the Company submits an advance notice to the Purchaser. For each advance notice, the maximum advance amount would be 100% of the average daily value traded of the ADSs during the ten trading days immediately prior to the date of each advance notice, or such other amount as may be agreed by the parties. The purchase would be subject to certain ownership limitations as provided under the SEDA. The Purchaser has agreed that, during the term of the SEDA, neither the Investor nor its affiliates will engage in any short sales or hedging transactions with respect to the Company’s Class A ordinary shares or ADSs.

CooTek intends to use the proceeds from the offering of the Note and the potential offering of the ADSs pursuant to the SEDA for the development of online literature products and for general corporate purposes.

About CooTek (Cayman) Inc.

CooTek is a fast-growing mobile internet company with a global vision. The mission of CooTek is to empower everyone to enjoy relevant content seamlessly. The Company’s user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users’ ever-evolving content needs and helps it rapidly attract targeted users. CooTek has developed and brought to market content-rich mobile applications, focusing on three categories: online literature, scenario-based content and casual games. For details, please visit: https://ir.cootek.com/.

Forward Looking Statements 

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. CooTek may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about CooTek’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: CooTek’s mission and strategies; future business development, financial conditions and results of operations; the expected growth of the mobile internet industry and mobile advertising industry; the expected growth of mobile advertising; expectations regarding demand for and market acceptance of our products and services; competition in mobile application and advertising industry; relevant government policies and regulations relating to the industry and the development and impacts of COVID-19. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and CooTek does not undertake any obligation to update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes, except as required under applicable laws. Investors should not place undue reliance on forward-looking statements.

For investor enquiries, please contact:

CooTek (Cayman) Inc.
Mr. Robert Yi Cui
Email: IR@cootek.com   

ICA (Institutional Capital Advisory)
Mr. Kevin Yang
Phone: +86-021-8028-6033
E-mail: cootek@icaasia.com

Related Links :

https://ir.cootek.com/