Christine Lee-led BillingTree sells and Christine Spang’s Nylas raises $120M

From our Women's PE Briefs - week commencing June 21, 2021

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Christine Lee-led BillingTree sells for $503M in cash and stock

BillingTree, a provider of integrated payments solutions whose CEO is Christine “Chris” Lee has been sold by its private equity backer to a public company. Parthenon Capital is selling the Scottsdale, Ariz. company to Repay Holdings Corp. for $503 million in cash and stock.

Atlanta-based Repay provides vertically-integrated payment solutions. BillingTree serves more than 1,650 clients across multiple markets, including health care, credit union, accounts receivable management and energy. Parthenon initially invested in BillingTree in 2016.

Chris was brought aboard in December 2018. Her background includes roles with Moneris, Vantiv, National Processing Co., Bank of America and Mastercard.

Christine Spang’s Nylas raises $120M in Series C funding

Nylas, Inc., which was co-founded by Christine Spang, closes a significant financing round. The San Francisco company raised $120 million in Series C financing from Tiger Global, Owl Rock Capital, Blue Cloud Ventures and such existing investors as Citi Ventures, Slack Fund, 8VC, Round13 Capital and Scale Asia Ventures. It has now raised $175 million.

Nylas helps organizations build email, calendar and contact integrations into their SaaS applications. The company was founded in 2013. Its communication platform is used by thousands of developers to handle more than 1 billion API requests per day to such providers as Gmail, Microsoft Exchange, Outlook.com and Yahoo.

Christine, who serves as CTO, previously held developer roles with Ksplice and with Oracle after Ksplice was acquired by Oracle. In 2020, Nylas acquired June.ai, an autonomous task tool provider.

Michelle Valentine’s Anrok launches its platform after receiving $4.3M in seed funding

A sales tax solution built specifically for software-as-a-service businesses co-founded by Michelle Valentine launches its platform following funding. Anrok received $4.3 million in seed funding co-led by Index Ventures and Sequoia Capital.

Based in San Francisco, the platform allows internet businesses to determine, calculate and manage ever-shifting sales tax obligations. Anrok helps fast-growing software-as-a-service companies grow across boundaries and ensure compliance at every level, all without the need for an in-house tax expert.

In a statement, Michelle said, “for software companies, knowing where your customers are and having to calculate the appropriate tax amount in real time is far from straightforward. That’s why we’re excited to deliver Anrok to customers to help them navigate this new environment and accurately calculate tax for ever-changing subscription invoices.”

Lital Leshem’s Carbyne raises $20M in funding

An emergency collaboration company co-founded by Lital Leshem raises funds to accelerate its expansion into health services. Carbyne raised $20 million in funding led by Global Medical Response with participation from Hanaco Venture Capital, Intercap and Elsted Capital Partners.

Based in New York, Carbyne is aimed at redefining emergency collaboration amid the public health crisis. Carbyne will be working closely with Global Medical Response to develop advanced and widely applicable interactive communication solutions for the health and medical sectors, as well as to construct new dedicated domestic resources. With this new round of funding, Carbyne is introducing a platform for a simple unified flow between callers, health-related call centers, first responders, nurses and hospitals, optimizing operational efficiency for superior response time.

Helen O’Neill, Deirdre O’Neill and Natalie Getreu’s Hertility raises 4.2M pounds

A London-based women’s health start-up founded by Helen O’Neill, Deirdre O’Neill and Natalie Getreu raises funds from a group that includes Evelyn Bourke. Hertility Health raised 4.2 million pounds in a round led by LocalGlobe, Venrex and some key angel investors including Evelyn and Matt Robinson. Hertility helps women understand their reproductive health and infertility risks, working with experts to provide personalized care pathways that help with all aspects of women’s health, including symptom management, egg freezing and IVF. In recognizing the sensitive nature of these results, Hertility also offers fertility counselling to those in need. In a statement, Helen said, “we live in a society that expects us to tolerate pain and mask our symptoms. Some women spend over ten years on their contraception, never fully knowing if there might be something wrong.” The funds will help Hertility expand its current product offering of fertility and hormone testing, menopause, miscarriage, postnatal care, polycyctic ovarian syndrome and endometriosis testing, as well as aid the expansion of its current clinical trials which aim to reduce the diagnosis time for some of the most common reproductive conditions.

Amany Attia-led ThinCats receives 160M pounds from Wafra Capital Partners

ThinCats, an alternative finance provider whose CEO is Amany Attia, lands a sizable amount of capital. The UK firm received 160 million pounds from Wafra Capital Partners. ThinCats has lent almost 1 billion pounds to small and medium enterprises in the United Kingdom over the last few years. The new capital, alongside senior bank and institutional funding, will enable it to lend a further 2 billion pounds.

Amany joined ThinCats in the fall of 2019 after running The Northview Group, a UK mortgage lender and servicer.

Kait Margraf Stephens-led Brij secures $1.25M in seed funding

A platform connecting physical products to digital experiences led by Kait Margraf Stephens launches following funding. Brij secured $1.25 million in seed funding led by Lakehouse Ventures and Rationalwave Capital Partners.

With one-touch, New York-based Brij allows consumers to gain product info, care instructions and discounts and allows business owners to gain a deeper understanding of their consumers. The funding allows the company to continue developing its one-touch product registration and reorder. Brands can also build tailored digital experiences for each of their products that are accessible via a QR code.

Laura Citron-led London & Partners launches Beyond HERizons

London & Partners, which is led by Laura Citron, launches a new initiative to support U.K. female founders. Beyond HERizons will offer a balance of education, support and networking opportunities, ensuring founders receive tangible and sustainable support from experts. The entrepreneurs taking part in the initiative span a range of tech sectors from digital health and the circular economy to robotics and edtech.

The entrepreneurs include Letizia Gionfrida, co-founder & CEO of Arthronica; Rahel Tesfai, founder & CEO of FroHub; Mikela Druckman, co-founder and CEO of Greyparrot; Rene Perkins, founder & CEO of CityMaaS.io; Jill Hodges, founder & CEO of Fire Tech; and Kike Oniwinde, founder & CEO of BYP Network.

In a statement, London & Partners’ Janet Coyle said, “beyond HERizons will bring together a community of diverse female founders to access impactful, practical support and investor networking opportunities and engage London’s extensive network of investors committed to increasing accessibility to funding in the U.K.”

Fatma Collins and Julie Rogers’ Ten Little raises $5M from Kindred Ventures, NextView Ventures and others

A predictive e-commerce platform helping parents navigate the cluttered children’s product space, which was co-founded by Fatma Collins and Julie Rogers, secures funding. Ten Little gained $5 million in a seed round led by Kindred Ventures, NextView Ventures, and executives from companies such as Farfetch, TikTok and Revolve.

New York-based Ten Little’s first category was vegan shoes that support natural development and movement coupled with tools to help find each child’s perfect fit. When it is time to size up, Ten Little’s predictive data platform sends personalized reminders for each child based on size, color, location and season, and lets parents reorder instantly via text.

This new funding will allow Ten Little to grow its team, specifically within product, engineering and data, and community and content, to best support the brand’s accelerated growth plans. Ten Little will continue to improve its predictive platform to guide parents in finding the right products for their children at every stage and size across multiple categories. They also will launch a new empathy-first and expert-moderated community platform.

In a statement, Fatma said, “a year into launching Ten Little, this new funding will position us to better support families by offering personalized recommendations across categories at every stage and size, while also providing digital tools and interactive content to guide them through their children’s development and growth.”

Rachael O’Neil’s Curate lands $1.25M in seed funding

A modern platform for florists, caterers and other creative businesses co-founded by Rachael O’Neil raises funds. Curate landed $1.25 million in seed funding from OCA Ventures, Jim McKelvey, Cultivation Capital and Stout Street Capital, according to Crunchbase News.

St. Louis-based Curate’s platform enables businesses to create proposals, process payments, manage supply chains and maintain communication with customers and suppliers so owners can spend more time on their business. Curate intends to use the new funding on technology development, to grow and provide new features and functionalities, especially for catering companies, as well as for a more robust customer relationship management platform for florists.

Galina Antova’s Claroty raises $140M from Bessemer Venture Partners, 40 North and LG

A developer of industrial cybersecurity technology co-founded by Galina Antova secures additional funding. Claroty raised $140 million in a round led by Bessemer Venture Partners’ Century II Fund and 40 North, with participation from Korea-based LG, according to industry publication CRN.

Based in New York, Claroty works across industrial verticals including automotive, life sciences, food and beverage and critical infrastructure to protect IoT and industrial IoT as well as secure remote access. The new round of funding will be used to help Claroty both broaden its reach into a wider range of industrial cybersecurity areas such as IoT and deepen its domain experience.

Jackie Lindsay-led Routes Healtcare has been acquired by Palatine Private Equity

An English home health care provider led by Jackie Lindsay has been acquired by a private equity firm. Terms of Palatine Private Equity’s purchase of Routes Healthcare were not disclosed.

Routes provides specialist complex care packages for people with long-term health conditions, clinically led enhanced homecare packages and end of life care, enabling people to spend their final days at home. The company developed a complex care offering and is focused on growing higher acuity services as well as providing vital additional homecare capacity throughout the COVID-19 crisis.

In a statement, Jackie said, “both myself and the management team are delighted to have the opportunity to work closely with Palatine to realize the next stages of our development plan.” 

Vanessa Ogle’s Enseo is purchased by H.I.G. Capital

Enseo founder Vanessa Ogle sells the provider of in-room technology solutions to a private equity firm. Terms of H.I.G Capital’s purchase of the Plano, Texas company were not disclosed. Vanessa, who started the company in 2000, will be stepping down from her CEO role once a replacement is found. She will remain chairman.

Enseo serves the hospitality, senor living, education and health care markets. Its offerings are enjoyed by guests in more than 300,000 rooms globally.

Paige Thomas will lead the e-commerce unit of Saks OFF 5TH after an investment by Insight Partners

Paige Thomas will lead the e-commerce unit of retailer Saks OFF 5TH after an investment by Insight Partners establishes it as a standalone business. Insight has led a $200 million equity investment in the business, valuing it at $1 billion. The store fleet of Saks OFF 5TH will be a separate entity and remain wholly owned by HBC. Paige joined Saks OFF 5TH earlier last year.

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