Bloom Procurement Services promotes Grant, Hamm is promoted to CEO of Duck Donuts and Reicin is named president and CEO of Tectonic Therapeutic

From our Women's PE Briefs - week commencing April 19, 2021

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AltruBio raises a $63M Series A round

AltruBio, Inc., a clinical stage biotech company led by Judy Chou, secures a sizable Series A round. The Redwood City, Calif. company raised $63 million from a group that includes aMoon and BVF Partners.

AltruBio has received Fast Track Designation from the FDA for its lead asset in steroid refractory acute graft-verus-host disease. It has also implemented a new focus on its novel PSGL-1 program for neurological diseases.

Judy joined AltruBio as president and CEO last year after serving as Bayer’s global head of biotech. AltruBio’s board includes Corsee Sanders, who most recently was the strategic adviser to the Celgene Office of the Chief Medical Officer.

 Bloom Procurement Services promotes Grant

Amabel Grant is promoted to CEO at Bloom Procurement Services after the public sector procurement marketplace receives growth capital. The Gateshead, UK company secured 14 million pounds from BGF.

Founded in 2011, Bloom Procurement provides a marketplace for the provision of professional services to the UK public sector. To date, it has transacted more than 7,500 projects with a value of 800 million pounds.

Amabel joined Bloom Procurement in 2018 as CTO. Her background includes serving as Crown Marketplace program director in the cabinet office. Boom will use the capital to further develop its technology.

Altaris Capital Partners agrees to purchase a 51 percent stake in Solesis

An investment firm is set to acquire a majority stake in a company whose CEO is Karen West. Altaris Capital Partners has agreed to purchase a 51 percent stake in Solesis, Inc., the health care subsidiary of Compagnie Generale des Etablissements Michelin SCA. Terms were not disclosed. Michelin will maintain a 49 percent interest in the Telford, Pa. company and will formalize a research and development initiative with Solesis to develop advanced polymers for life sciences and medical technology applications. A provider of biomaterials, tools and services for the life science and medical technology industries, Solesis operates through two divisions.

Bronzo's Doorstead raises a $12.5M Series A round

Doorstead, which was co-founded by Jennifer Bronzo and which is a portfolio company of Silicon Valley Data Capital’s Lara Druyan, receives additional capital as it seeks to disrupt the property management industry. The San Francisco company raised $12.5 million in a Series A round led by Madrona Venture Group. Silicon Valley Data Capital and M13 co-led the company’s $3.3 million seed round in the fall of 2019.

Doorstead provides landlords guaranteed rental income, regardless of occupancy. It uses modern data science to efficiently model risk alongside operations technology that enables consistent, high-quality service at scale. Doorstead eliminates vacancy risk and makes the market more efficient. It currently manages more than 300 properties in the San Francisco Bay Area. It recently launched in Southern California.

Jennifer founded the company in 2019 with Ryan Waliany, who is CEO. Jennifer, who is the chief operating officer, was previously a property manager with Maywood Construction.

Hamm is promoted to CEO of Duck Donuts after it's purchased by NewSpring and Free Fenix

Betsy Hamm is promoted to CEO of Duck Donuts after the donut franchise company is acquired by a pair of investment firms. Terms of Duck Donuts’ purchase by NewSpring and Free Fenix were not disclosed.

Launched in 2007 in the town of Duck in the Outer Banks of North Carolina, the company today operates one international and 101 U.S. franchise locations across 21 states. Betsy, who has been chief operating officer, replaces founder Russ DiGilio as CEO of the Mechanicsburg, Pa. company.

Duck Donuts is the second investment done by NewSpring’s newly launched strategy, NewSpring Franchise. In March, it invested in Blo Blow Dry Bar, which is led by Vanessa Yakobson.

Vandenberghe's Chili Piper raises a $33M "Series Spice" round

Chili Piper, which was co-founded by Alina Vandenberghe and her husband Nicolas, has landed additional capital in what they are calling their “Series Spicy” round. Tiger Global led the San Francisco company’s $33 million round that also included existing investors Base10 Partners and Gradient Ventures. Base10 and Gradient took part in its $18 million Series A round that was done last year.

Founded in 2016, Chili Piper has created a routing and scheduling solution that makes it easier for sales representatives and potential customers to meet. The company provides real-time calendaring and offers a full suite of solutions to connect inbound opportunities to sellers instantly. Chili Piper’s system synchronizes buyers and sellers calendars and also enables buyers to be connected to available reps via voice or video instantly. Chili Piper’s customers include Intuit, Square, Spotify, Hewlett Packard and Zenefits.

Reicin is named president and CEO of Tectonic Therapeutic

Dr. Alise Reicin will lead a biotech company that is launching with significant financial support. Alise was named president and CEO of Tectonic Therapeutic, Inc. She is the former president of clinical development Celgene.

Based in Watertown, Mass., Tectonic is seeking to transform the discovery of novel G-protein-coupled receptors-targeted therapies. GPCRs are the target of approximately 30 percent of all currently approved drugs, but many remain unexplored or are considered undruggable. Tectonic’s platform will make it possible to identify more.

The company has received $80 million in Series A financing from Vida Ventures, T.A. Springer, Polaris Partners and EcoR1 Capital.

Boyman's Hungry Planet raises $25M in Series A funding

A plant-based meat company co-founded by Jody Boyman chomps down on fresh capital. Hungry Planet, Inc. raised $25 million in Series A funding from Post Holdings, TRIREC and other unnamed plant-forward investors.

Based in St. Louis, Hungry Planet produces a range of products including plant-based chicken, pork, beef, lamb, turkey, crab, chorizo, breakfast sausage and Italian sausage. It has, it said, sold more than 4 million servings. Jody founded Hungry Planet with her brother, Todd Boyman, who is CEO.

Racette's Virtual Gurus secures 1.7M Canadian in funding

A company founded and led by Bobbi Racette that matches businesses with virtual assistants connects with investors. Virtual Gurus secured 1.7 million Canadian from Western Economic Diversification’s Businesses Scale-up and Productivity program and such existing investors as Raven Indigenous Capital Partners and The51.

The Calgary, Alberta company will use the capital to accelerate growth of its technology solution, begin work in machine learning and create additional opportunities for individuals from such underrepresented communities as Indigenous descent, the LBTQ2+ community, single, stay-at-home mothers and those with disabilities.

Zanetti's Poke House raises $20M euros in Series B funding

Poke House, which was co-founded by Vittoria Zanetti, devours fresh capital. The Italian company raised 20 million euros in Series B funding from Eulero Capital, FG2 Capital and return investor Milano Investment Partners, according to TechCrunch.

Poke House is using technology and data to industrialize the production of poke bowls for food delivery platforms, such as Uber Eats. The company currently has more than 30 outlets in Italy, Portugal and Spain and 400 employees. It will use the capital to enter France and begin expanding in the United Kingdom. Vittoria founded Poke House with Matteo Pichi.

TriWest Capital Partners invests in Supreme International

Supreme International, Ltd., a manufacturer of feed mixers for the dairy and beef industries led by Jeannette Guertin, partners with a private equity firm. Terms of TriWest Capital Partners’ investment in the Calgary, Alberta company were not disclosed. Jeannette and the rest of Supreme’s management team will continue to lead it.

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