News & Press Releases

05/17/2017

Host Analytics Partners with Prevedere to Bring Predictive Financial Forecasting to EPM

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04/19/2017

Deem Work Fource: Business Travel Software That Works

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03/09/2017

Prevedere Raises $10 Million in Series B Funding Led by Norwest Venture Partners

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02/01/2017

Deem® Announces Appointment of Travel Industry Leaders

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01/06/2017

Sprint Selects Movius to Provide Cloud-Based Platform to Add Second Line to Employees’ Corporate or Personal Mobile Devices

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11/01/2016

PRGX Global Completes Acquisition of Lavante

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10/19/2016

Deem and OLSET Join Forces to Create Smarter Travel Technology

Leading-Edge AI, Machine Learning and 200 Million Sentiments from 60 Million Hotel Reviews Will Bring New Level of Personalization to Business Travel Software

SAN FRANCISCO, CA--(Marketwired - October 19, 2016) - Deem, a leading mobile and cloud technology solution provider for the business travel industry, announced today that it has entered into an agreement to acquire the assets and personnel of OLSET, a leading big data and machine learning technology company. In combination with Deem's industry-leading travel software, OLSET's technology will enable Deem to provide a new level of personalization and optimized booking experiences for business travelers, while offering travel management companies and content providers additional revenue at no incremental cost.

"OLSET has been a trailblazer in using AI and machine intelligence to drive personalization in travel software," said John F. Rizzo, President and COO of Deem. "This acquisition is a great opportunity to harness the synergies between our products and create the next generation of travel technology. It adds more fuel to Deem's innovation efforts made possible by our recent funding, renewed focus and new leadership."

The announced acquisition was greeted with enthusiasm by leading business travel services and Deem customers. "American Express Global Business Travel (GBT) is constantly exploring new technologies to improve the services and products we provide to our customers and partners," said Evan Konwiser, Vice President of Digital Traveler at American Express Global Business Travel. "The machine learning and AI technology that Deem will provide based on the OLSET platform is very promising, and we're pleased OLSET is now a part of the Deem ecosystem."

"This is an exciting development for the industry," said Ivan Imana, CIO of Adelman Travel. "The new technology will have a big impact on hotel attach rates for us, resulting in higher client satisfaction."

OLSET's technology includes a knowledge-based recommendation engine, machine learning, sentiment analysis and natural language processing. These are used to analyze past user behavior, traveler profiles and large quantities of data -- including 200,000,000 sentiments extracted from more than 60,000,000 reviews of more than 500,000 hotels -- to better match users with hotels and other services. This high level of personalization will enable Deem to significantly increase hotel "attach rates": the rate at which employees use company-compliant software to make hotel reservations after booking flights.

As a result, employees benefit from a faster, more convenient booking experience. Corporate travel managers and travel buyers can better control spending by ensuring that that employees do more of their booking using approved systems and preferred providers. And content suppliers get best-of-breed tools for consumer-grade offer optimization to present their content to the most likely buyers and thus generate more revenue.

OLSET was funded by capital from a number of leading venture capital firms including Amadeus Ventures and Montage Ventures. The transaction is slated to close in the next 45 days, and plans are already underway to integrate the OLSET technology into Deem's platforms.

About Deem
Our mission is simple. We make business travel less complicated for travelers, less costly for employers and more profitable for service and content providers. Using our industry-leading software solutions, employees book travel and car service and report those expenses faster and more easily than ever before. Corporations control costs more effectively. Travel management companies deliver more engaging customer experiences. Car service operators benefit from new efficiencies and widen their customer reach. We've helped thousands of forward-thinking companies modernize their systems, improve travel management and save big money. Deem is backed by leading venture capital funds as well as corporate and private equity investors. The company is headquartered in San Francisco, CA.

CONTACT INFORMATION
Press Contact
Jackie Miehls
310.749.9492
jackie.miehls@deem.com



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03/15/2016

Lavante and Beroe Partnership -- A Major Win for Procurement Departments

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03/14/2016

Nod Labs Unveils Project Goa, Precision Tracking And Presence For Mobile VR

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03/14/2016

Nod Wants To Give You Control Over Virtual Worlds

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03/14/2016

Is Gesture the Future of Computing?

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02/17/2016

Lavante and Taulia partner to drive value of supplier relationships to new levels

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01/06/2016

Predictive Analytics Forecasting Solution Prevedere Doubles Client Base and Staff in 2015

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12/03/2015

Movius Selected as a 2015 Red Herring Top 100 Global Winner

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06/30/2015

Prevedére Raises $6.7 Million to Fuel Its Big Data Predictive Analytics Solution

Forecasting Software Provider Completes Series A Financing Led by PointGuard Ventures

June 30, 2015 (COLUMBUS, Ohio) -- Prevedére, a leading big data predictive analytics solution, today announced that it has closed a $6.7 million Series A led by PointGuard Ventures. The investment in Prevedére will be used to accelerate go-to market strategies and product development. Since its founding 2012, Prevedére has seen rapid expansion of its customer base, with 266% year-over-year growth.

Prevedére’s patent-pending software helps companies increase profits and outperform competition by identifying and leveraging external economic performance drivers. Ultimately, Prevedére enables its customers to improve forecast accuracy, make better decisions on inventory and working capital, and identify new global growth opportunities. Prevedére’s Economic Intelligence™ software is used by customers across all industries, leading private equity and financial investment firms.

“External factors have a significant impact on the performance of most companies,” said Rich Wagner, founder and CEO of Prevedére. “Our software was developed to fill the gap between costly information data providers and internally focused business intelligence by putting millions of external leading indicators at our customers’ fingertips.”

Prevedére integrates easily within companies’ existing enterprise financial planning and analysis (FP&A) systems to provide externally-driven, fact-based answers to the "why" and "when" of an enterprise's performance. For example, Prevedére empowers chief financial officers to respond to challenging questions surrounding price adjustments, performance fluctuations and market forecasts.

“Prevedére provides a very easy to use analytics solution that enables management to identify and forecast external economic factors impacting their business. Customers have dramatic success improving the top line and bottom line by taking early action to mitigate negative elements and to benefit from the positive elements identified by the Prevedére solution,” said Pete Thomas, managing director of PointGuard Ventures. “We’re convinced any enterprise, especially publicly traded companies, will want to use this software to improve their business forecasting and management.”

With Prevedére’s advanced statistics, pattern matching and predictive analytics, companies can make better operational and strategic decisions to improve bottom line results immediately. Enterprise, small and mid-sized businesses can all leverage this intelligence without a multi-million dollar investment or months of implementation time.

Since receiving first funding and startup guidance from Rev1 Ventures (formerly known as TechColumbus), Prevedére has been named a “Cool Vendor in Information Innovation” by Gartner and one of IDG Research’s “5 Startups to Watch.” Prevedére also recently won Best in Show at the Plug & Play Expo and was recognized by Innovation Enterprise as the FP&A Innovation Awards winner in Forecasting and Planning.

###

About Prevedére
Prevedére's award-winning predictive analytics software allows companies to look beyond their own walls for key external drivers of financial performance. Our software collects and analyzes millions of global metrics in real time, including macroeconomic factors, manufacturing activity, consumer behavior, online traffic and weather data. Prevedére’s customers see improved financial performance with more accurate forecasts of future demand for their products and services. Prevedére’s software quickly and easily integrates with any financial planning platform to ensure companies are looking at the right factors that drive business. To learn more visit prevederesoftware.com and follow @Prevedere on Twitter.

About PointGuard Ventures
PointGuard Ventures, founded by Krish Panu and Pete Thomas, both Silicon Valley venture capitalist veterans with 35 years of venture and operating experience, invests in dynamic new technology companies to create new market opportunities or to solve problems in existing markets more cost effectively. Their venture experience spans over 50 startups, 12 IPOs, and many successful M&A transactions. PointGuard's new fund will invest in software, networking, and hardware to provide "technology convergence" solutions to many of today's markets including Mobile Commerce, Cloud Computing, Greentech, Point-of-Care medical, Education, and applied Data Analytics. PointGuard’s fund strategy is to invest in a mix of companies in need of Series A & B funding, and in select later stage investments that are based in the U.S. with the potential for early global market entry.



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06/16/2015

Nod Labs Gets $13.5 Million In Funding To Push Nod Backspin, A Gaming Ring To Rule VR Headsets

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06/11/2015

MOVIUS SELECTED AS A RED HERRING TOP 100 NORTH AMERICA WINNER

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06/05/2015

MOVIUS WINS RED HERRING TOP 100 AWARD!

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12/17/2014

SERVIZ Secures $12.5 Million in Series B Funding

On-Demand Home Services Company Completes Series B Financing Led by PointGuard Ventures to Accelerate Nationwide Rollout and Service Offering Expansion

LOS ANGELES, CA - December 17, 2014 -- SERVIZ, an on-demand home services provider aiming to disrupt the $400 billion home services industry, today announced that it has closed a $12.5 Million Series B equity financing round led by PointGuard Ventures. Existing investors Andy Sheehan, Jeff Stibel of Stibel Investments and SERVIZ founders, Zorik Gordon and Michael Kline, also participated in the round. SERVIZ will use the capital to expand its service offerings to the top 20 home repair categories and support expansion into an additional 20 geographic markets in the next 12-24 months. Including the prior Series A round led by Groupon (NASDAQ: GRPN), the company has raised $20 million of equity financing to date.

“We’ve seen really strong adoption of SERVIZ in the Los Angeles and Orange County regions since our launch. In just five categories and only five months since our launch, we have already scheduled over 10,000 home services appointments, and our appointment volume is growing more than 50% month-over-month,” said Zorik Gordon, co-founder and CEO of SERVIZ. “We have an aggressive roll out strategy, and these funds will enable us to expand into new services and new markets. This latest round led by PointGuard Ventures is a strong validation of our momentum to date and the size of the opportunity ahead of us.”

SERVIZ is fundamentally changing the way consumers purchase home services. By utilizing its on-demand booking and job allocation technology platform and proprietary network of independent service professionals, SERVIZ lowers the price of home services and passes those savings on to the consumer. The company’s mission is to eliminate the excessive mark-up that existing home services companies have historically charged. SERVIZ currently provides on-demand home repairs covering more than 300 services across 5 primary categories, including handyman, plumbing, carpet cleaning, appliance repair, and electrical. SERVIZ pros are background-checked, licensed, and insured and their work is backed by a 100% satisfaction guarantee.

“SERVIZ uniquely combines the pricing transparency and customer experience of Amazon with the convenience and efficiency of a proprietary on demand booking application like Uber,” said Krish Panu, founder and managing director at PointGuard Ventures. “Based on how SERVIZ has been able to execute to date and with their ability to add more services and new markets to its platform in a scalable manner, their potential is limitless, and we are thrilled to partner with such a veteran executive team.”

With this round of funding, PointGuard Ventures’ founder and managing director, Krish Panu, will join the SERVIZ Board of Directors. Panu’s previous investments include Deem, Movius Interactive Corp, and Lavante®, among others.

About SERVIZ
SERVIZ is an on-demand home services company that aims to disrupt the $400 billion home repair industry by offering a faster and less expensive way to book and pay for home services online. From handyman work to plumbing, carpet cleaning, electrical work and appliance repair, SERVIZ provides background checked and licensed professionals at unbeatable, upfront prices, all at the click of a button. SERVIZ is headquartered in Sherman Oaks, CA and currently serves the greater Los Angeles area, including Orange County, with plans to expand nationwide. For more information about SERVIZ, please visit www.serviz.com or download the SERVIZ iOS app.

About PointGuard Ventures
PointGuard Ventures, founded by Krish Panu and Pete Thomas, both Silicon Valley venture capitalist veterans with 35 years of venture and operating experience, invests in dynamic new technology companies to create new market opportunities or to solve problems in existing markets more cost effectively. Their venture experience spans over 50 startups, 12 IPOs, and many successful M&A transactions. PointGuard's new fund will invest in software, networking, and hardware to provide "technology convergence" solutions to many of today's markets including Mobile Commerce, Cloud Computing, Greentech, Point-of-Care medical, Education, and applied Data Analytics. PointGuard’s fund strategy is to invest in a mix of companies in need of Series A & B funding, and in select later stage investments that are based in the U.S. with the potential for early global market entry.

Media Contact
Rachel Kahn - Sparkpr for SERVIZ
rachel.kahn@sparkpr.com - (818) 963-8711



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10/22/2014

PointGuard Ventures and Morningside Invest $13M in InSilixa's Semiconductor-Based Molecular Diagnostics Technology

CMOS Biochips Enable High-Performance, Mass-Deployable and Low Cost Products for Point-of-Care DNA Testing

MENLO PARK, CA, October 22, 2014 -- PointGuard Ventures a Silicon Valley venture capital firm, and Morningside, a privately-held investment group, announced today that they are leading a $13M financing round for InSilixa, Inc., a new Sunnyvale, California-based molecular diagnostic (MDx) platform developer. InSilixa also announced the appointment of Pete Thomas, Managing Director, PointGuard Ventures; and Dr. Gerald Chan, co-founder of Morningside, to InSilixa's board.

InSilixa is developing a new generation of high-performance MDx platforms leveraging integrated circuit (IC) manufacturing technologies, particularly complementary metal-oxide-semiconductor (CMOS) processes. InSilixa’s fully integrated devices, such as CMOS biochips, are specifically designed to be cost-efficient, mass-deployable, and disposable; yet offer superior clinical performance, specificity, and parallelism. InSilixa point-of-care (PoC) systems, for example, can rapidly identify the infecting pathogen in clinical samples and simultaneously verify the absence or presence of genetic mutations that result in antibiotic resistance. There is an urgent need for such a system in multiple diagnostic scenarios, such as rapid detection of multi-drug resistant bacteria ("super bugs") in intensive care units. The system is also critical for effective response to seasonal respiratory infection outbreaks and the optimal treatment of drug resistant bacterial or viral infections (e.g., tuberculosis or HIV) globally.

The underlying technologies behind InSilixa’s products came out of Caltech, The University of Texas at Austin, and Stanford University. InSilixa exclusively licensed and combined them to create its unique platforms.

"When we started the company, we were confident that we could make a superior solution using our CMOS Biochip technology to compete with today's "big iron" instruments in the life science research market," said Arjang Hassibi, Ph.D., InSilixa's Founder and Chief Executive Officer. Yet, the real challenge for us was how we could leverage our technology to make a high-impact product for high-volume diagnostics and applied markets. I believe we have found the perfect answer, and we are pleased to have the support of PointGuard Ventures and Morningside to develop our envisioned products."

While precise details of InSilixa’s first products are not yet released, the company has indicated that the first generation of products will be focused on highly multiplexed genomic tests for PoC and near patient diagnosis of infectious diseases. Due in large part to the semiconductor technology underlying all its products, InSilixa is developing a platform-based architecture, which will allow the cost effective and rapid retargeting of its technology for use in different diagnostic applications, each employing different genomic target sets or panels.

"InSilixa has created an art-of-the-possible tipping point by bringing the frontiers of DNA sequencing, molecular diagnostics, and personalized medicine to handheld field devices at global utility price points," said Krish Panu, Managing Director, PointGuard Ventures. "This technology has the ability to make a tremendous and meaningful quality-of-life impact in areas such as infectious disease, dispassionate of geography and economic status. It is truly exciting for us to be funding InSilixa’s future developments."

"InSilixa's focus on providing real-time, economical, mobile diagnostic capabilities could not come at a better time," said Dr. Gerald Chan, co-founder of Morningside. "We look forward to progressing this personalized point-of-care technology."

 

About InSilixa, Inc. (www.insilixa.com)
InSilixa, Inc., headquartered in Sunnyvale, CA, is a multidisciplinary, highly motivated and highly technical team comprised of industry veterans with diverse backgrounds in semiconductor, biotechnology, medicine, and informatics. Founded in 2012, InSilixa is driven by the quest to democratize and drive down the cost of molecular diagnostics worldwide by leveraging its proprietary semiconductor-based CMOS biochip technology. To that end, the company is developing point-of-care (PoC) and near patient platforms for the delivery of low cost, high-performance, and mass-deployable solutions for DNA and protein-based diagnostic testing.

About PointGuard Ventures (www.pointguardventures.com)
PointGuard Ventures, founded by Krish Panu and Pete Thomas, both Silicon Valley venture capitalist veterans with 35 years of venture and operating experience, invests in dynamic new technology companies to create new market opportunities or to solve problems in existing markets more cost effectively. Their venture experience spans over 50 startups, 12 IPOs, and many successful M&A transactions. PointGuard's new fund will invest in software, networking, and hardware to provide "technology convergence" solutions to many of today's markets including Mobile Commerce, Cloud Computing, Greentech, Point-of-Care medical, Education, and applied Data Analytics. PointGuard’s fund strategy is to invest in a mix of companies in need of Series A & B funding, and in select later stage investments that are based in the U.S. with the potential for early global market entry.

About Morningside (www.morningside.com)
Morningside is a diversified investment group founded in 1986 by the Chan family of Hong Kong. It is engaged primarily in private equity and venture capital investments. The group has investments in North America, Europe, and across Asia-Pacific, and since 1992, in Mainland China. Morningside is an active investor in early-stage life science companies formed around new technologies that represent a high degree of novelty over existing technologies.

For InSilixa inquires, please contact:
Nader Gamini
COO
nader.gamini@insilixa.com

For press or analyst inquiries, please contact:
Cherie Le Penske
President
LP Group
D: 206.852.8427
cherie@lpgink.com



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09/30/2014

Lavante Announces Frank Harbist as New CEO

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08/19/2014

PointGuard Ventures Leads new Financing Round for Lavante

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07/25/2014

Funding Flash: A New Firm In Town, And $500 Million Available For Biotech

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07/24/2014

PointGuard Ventures leads $13M financing round for Movius global expansion of converged messaging and mobile identities

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07/24/2014

Movius raises $13M to give BYOD users multiple phone lines, split billing on one device

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07/24/2014

PointGuard Ventures to Target Recaps and Series B Deals With $150M Debut Fund

Lizette Chapman, July 24, 2014, (c) 2014 Dow Jones & Company, Inc.

New venture firm PointGuard Ventures is seeking startups and companies on the rebound.

Having closed $50 million of what it expects will be a $150 million debut fund, the Menlo Park, Calif.-based firm confirmed it has already invested in three companies: Movius Interactive Corporation Inc., Deem Inc. and Lavante Inc.

All three are recapitalizations of companies that are more than 12 years old.

"We look at later-stage deals selectively. There are some great businesses that need to be restructured with board members and everything else," said PointGuard Managing Director Krish Panu, who co-founded the firm with Pete Thomas late last year.

That "everything else" includes resources like a group of 20 veteran operators they tap as needed and a network of strategic partners along with skills Mr. Panu and Mr. Thomas have honed during the past 35 years.

The pair has been involved in a combined 50 startups, including Cirrus Logic Inc. and Transmeta Inc., resulting in 12 IPOs and a handful of M&A deals.

"We've gone through the whole process. We are battle-trained," said Mr. Panu, recounting the experience of taking @Road Inc. public in October 2000--the same week the NASDAQ dropped 1,000 points.

Those experiences, along with an LP base that can help U.S.-based companies expand in Asia, will enable PointGuard to help businesses turn good technology into real revenue, Mr. Panu said.

Movius Chief Executive Dominic Gomez said that level of involvement set PointGuard apart from other potential backers.

"Besides cash, they bring on hands-on expertise. They are very active," Mr. Gomez said. Although Movius had changed its product significantly from the voicemail technology that emerged from Bell Labs some 15 years ago and was winning new carrier customers, the cap table was messy, according to Mr. Gomez.

"Being a startup with an old legacy is a blessing and a curse. Investors look at you from a historical perspective," he said. "We really had to shed our skin here."

Movius had previously raised $40 million. PointGuard, which led the recapitalization that was announced Thursday, liked the company's shift to a software-as-a-service model and string of new customers. The revamped technology jettisoned the focus on voicemail to offer a platform that enables carriers, businesses and individuals to have multiple text, data and other accounts on the same device.

Mr. Gomez said based on new customers he expects Movius will do $24 million in revenue this year.

New Enterprise Associates and Anschutz Investments also participated in the $13 million recap at a $20 million valuation.

PointGuard also led a $3.5 million recap of supplier management and recovery software company Lavante and a $30 million recap in commerce network Deem. Deem announced Wednesday it had raised a $50 million growth round led by Chinese private equity firm Hony Capital. Previously known as Rearden Commerce Inc., the 15-year-old Deem had raised at least $400 million from investors prior to the recap, according to VentureWire records.

Mr. Panu said along with recapitalizations, his firm will bankroll what he considers to be an overlooked segment of the market: Series B companies.

"Angel investing in the U.S. has exploded dramatically. The result is higher quality companies coming to market that are further along. Series B is the new Series A," he said.

Typical investments will be between $2 million to $10 million per company, although the amount could exceed $10 million over the life of the company, Mr. Panu said.

PointGuard will invest across networking, mobile, software, semiconductor and other sectors, with an emphasis on what Mr. Panu called "convergent" opportunities that blend social, cloud, SaaS, mobile and other current macro trends.

"We will not just invest in chip companies," he said.

PointGuard I will close on the remaining $100 million by the end of summer, Mr. Panu added. He declined to share the names of LPs.

Plans call for adding another one or two managing directors and additional associates to PointGuard during the next year. Mr. Panu said the firm's deal pipeline is strong and he could easily invest the entire fund today if he chose to.

"We are clearly going to be building multiple funds," he said.



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07/23/2014

Deem® Raises $50 Million in Expansion Capital Funding

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07/21/2014

Deem® Finalizes Recapitalization led by PointGuard Ventures and Leading Mutual Fund Investors

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