Pharmright

VentureSouth portfolio news - summer 2018

KIYATEC led the big news this summer, with the admittance of the first patients to its first clinical trial. Learn more here and in Bloomberg.

Other portfolio companies continued their impressive momentum too:

Kwipped - featured in Hypepotamus, a tech start-up site, and are entering the metrology equipment market.

Proterra - announced a sale to Toronto Transit Commission, are offering high-powered charging systems, are helping create double-decker electric buses, and are delivering buses in Dallas, to the Eastern Contra Costa Transit Authority, and in Chicago. Keep rollin'.

Spiffy - New portfolio company (announced here) launched its Spiffy Blue, an on-board diagnostics sensor that will monitor your vehicle's health information. This announcement was also picked up by the Triangle Business Journal.

New portfolio company Emergo Therapeutics was featured in The Triangle's WRAL TechWire - another stellar entrepreneurial management team that we're pleased to add to the VentureSouth portfolio.

TiO - has teamed up with Level Homes in the Triangle. Their product was also added to a new home for a wounded veteran and his family through Operation Coming Home.

Threatswitch continues to roll out new features - this month smart filtered views.

Livi is a life-saver - and available on Amazon.

And Reveal Mobile and Proaxion are on the main stage at the CED Tech Conference in September.

Portfolio news - Wrapping up 2017

2017 was a very productive year for VentureSouth portfolio companies. We are proud of their progress and achievements, so wanted to pass along a few additional awards, links, self-promotion, and recognition of them.

Bring on 2018!

Portfolio news - June 2017

June is apparently a very busy time for our companies, so much so that we need two updates this month to cover the news already this month.

Proterra: Undermining the narrative that South Carolina companies never raise venture capital, Proterra announced its latest $55 million financing (in which VentureSouth members again participated - thanks pro rata rights!)  (Forbes, WSJ.) Wonder what proportion of those that are "still in" will be buying electric buses or just creating their own hot air?

ActivEd: several big achievements, from a rollout across all Cherokee County Schools to a state-level budget proviso to fund Walkabouts in 250 more classrooms in South Carolina - taking ActivEd into over 50% of schools in the state. This is why this is important.

Pharmright: Livi is working hard - and is already improving the lives of caregivers and early adopters. You can enjoy The Medicine Shoppe's commercial here.

OB Medical: LaborView is now available in Australia and New Zealand thanks to a distribution partnership with LSR Healthcare. (It had also announced integration with Philips' legacy monitoring systems back in April.)

Kwipped: Officially announced the additional investment from The Angel Roundtable. Pleased to be working with Tony and the rest of the TAR team.

Servosity: And finally here's Damien Stevens' "Entrepreneur Minute" from a couple of weeks ago.

Portfolio news - Early June 2017

There is no quiet winding down for summer at VentureSouth - with two diligence teams working hard, multiple investments closing, and strategic planning for improvements to our processes in the fall.

There is even less of a decrescendo at our portfolio companies. Here are the most recent updates:

Pharmright: new customers flooding in during May, including new pharmacy customers like The Medicine Shoppe in South Dakota and PharmNet in Mississippi.  Vote for them in the AARP Innovation Challenge here.

Avadim: continuing its partnership expansion, Avadim announced its partnership with Briggs Healthcare and with GPA.

Vendor Registry: added Dorchester County to its portfolio of governments in SC, joining Florence County, North Charleston, City of Spartanburg, and many others.

Atlas Organics: launched its consumer food waste collection business, Compost House. See this introduction from Greenville Online.

Proterra: World's most amazing bus company Proterra added a new chief legal officer and a new CFO.

And Kwipped's new equipment leasing program continues to add partners, like Balboa Capital today.

 

Portfolio news - May 2017

The spring continues to be productive for VentureSouth's portfolio companies. Here is a recap of recent progress on marketing and product development

Plum Print: received nationwide exposure in the Washington Post (subsequently re-circulated through the Rockies in the Denver Post to the Pacific in the Bend Bulletin!) - and was Sarah Michelle Gellar's top pick for Mothers Day. You can see their elevator pitch on MSNBC and on Hulu.

Kwipped: announced the launch of its equipment leasing program. If you would like to rent-to-own equipment, Kwipped now helps you find the equipment AND find ways to finance it. Learn more from Robert on the SE Tech Podcast from this month.

Avadim: announced another partnership, this time with Ocean X for a direct to consumer subscription channel.

Proterra: it wouldn't be a monthly update without something on Proterra. This month we have a new cold weather package and diagnostics kits and a test of the bus in Greenville. Not cool enough? How about (semi) autonomous buses?

Building up products, teams, and revenues are (of course) crucial for growth. But we are always mindful of exit preparation, and so are pleased to see when portfolio companies add to their patent suite - making themselves more attractive to potential strategic buyers.

Congratulations therefore to Zipit (here - receiving its 10th patent),  KIYATEC (here), Pharmright (here), and Brightfield (here) on expanding their patent portfolios in the last few weeks.

Portfolio news - March 2017

March was another busy month for VentureSouth portfolio companies. Here are a few of our favorite stories.

The Upstate Business Journal's "Startups to Watch" featured several VentureSouth portfolio companies, including TipHive and Ellipsis.

Kwipped expanded its services to offer "white glove delivery service" to take the complexity out of shipping and returning the assets you rent from the marketplace. And, if somehow you missed it, it had a nice write up in Electrical Engineering times.

Medical device manufacturer Pharmright added to its sales team - welcome Shannon.

And in the biggest news this month, Pete Durand and Rival Health announced a merger with gBehavior to create a comprehensive wellness platform with offices across the southeast. Congratulations to Pete and the team, and good luck on the next stage of the journey.

PS - Know anyone that would like to be an Optical Development and Test Specialist?

Portfolio news - January 2017

January began with a bang with Proterra's financing, and they continued to dominate headlines - with stories of big order wins like this one for 73 buses.

January has been an exciting time for other VentureSouth portfolio companies as well. Here are a few others that have made the news.

ActivEd: Kinesthetic learning edtech company ActivEd is going to be used in all the elementary schools in Greenville County. Greenville County is the largest school district in SC (and the 44th largest in the US) with over 50 elementary schools, so this is a big win.

Pharmright: Charleston-based Pharmright raised additional capital to accelerate the commercialization of Livi. Our groups participated - led by VentureSouth Charleston.

Vendor Registry: New portfolio company Vendor Registry impressed us - and impressed the Murfreesboro, TN purchasing department.

Booster: Crowdr became Booster, and moved from desktop to mobile. You can now live-stream your event from your phone or tablet, and simultaneously raise money for it. Download the app here.

Plum Print: And Plum Print inadvertently troubleshot inauguration logistics...

More portfolio news - October 2016

October has been a busy month, especially for the medical companies in our portfolio. Here are their further highlights.

Pharmright: Reached passed important milestones - production coming from its Maine manufacturing facility and product being shipped to customers. Many congratulations.

OB Medical: After announcing the LaborView at the AHWONN conference in June, maternal-fetal monitoring device manufacturer OB Medical began supplying their device to delivery rooms across the US. Congratulations to them too!

Avadim: Triple good news for our Asheville portfolio company, Avadim, which announced a partnership with the National Wrestling Coaches Association to prevent skin infections in wrestlers, enjoyed coverage for its continuing record revenue growth, and announced its roll-out of consumer products when Theraworx Relief hits the shelves next year.

And not strictly "portfolio news," these two articles are interesting insights into two portfolio companies:

  • This profile of Baebies' co-founder and president Vamsee Pamula explains his background and reveals much about what makes a stellar entrepreneur.
  • This article by Arjun Sethi explains at length why the "hive" is a great communications platform - and shows why we are excited to support TipHive.

Portfolio news - October 2016

Each month we convey some of the achievements of some of our portfolio companies. There is plenty of good news already this month, so here is an early October portfolio update.

Avadim: Announced its plans for a $25 million investment to create 500 jobs in a new HQ in Western North Carolina. This helps to explain why early stage companies create all net new jobs.

Atlas Organics: delivered the goods - in the form of 20 tons of organic compost. Much more to come.

Pharmright: Announced a partnership with Med One to help finance purchases of the new Livi, and became a finalist in Med City News' patient engagement competition.

Target PharmaSolutions announced very exciting news about its first disease state communities and first industry partnerships.

And Baebies received unanimous approval from the FDA panel for its SEEKER screening.

Some really impressive milestones in several different areas. And on a lighter note, Growjourney helped Paul boast impressive rows of broccoli, kale, lettuce, chard, and bok choy in his vegetable garden for the first time. Baby kale pairs well with (VentureSouth sponsor) RJ Rockers' Bellringer. Who knew?

Portfolio news - September 2016

New financings, new products, new clinical trials, and increasing recognition for our portfolio companies this month.

OB Medical: our syndication partner New World Angels publicly announced its participation in OB Medical's third financing round. VentureSouth invested again too, for the third time.

Avadim: announced the results of its use trials in student athletes.

Proterra: continues its success with its remarkable Catalyst E2 electric bus.

Vendor Registry: recent investment Vendor Registry is already recognized as critical for local government procurement processes. It was ranked #4 of the top 50 companies in the Engaging Local Government Leaders (ELGL) Choice Awards, with some great testimonials.

Pharmright: "may help curtail medication confusion". Alternatively, "may revolutionize medication adherence and help save hundreds of lives"!

 

Pharmright / Zipit partnership

"Cross pollination" of expertise between portfolio companies on "VC platforms" is one area where organized groups of VC and angels provide value to companies beyond simply capital.

It is especially pleasing to see local examples of portfolio companies being mutually supportive. Two VentureSouth companies, Pharmright and Zipit, announced today their development partnership. Zipit's expertise in Internet of Things communications fits perfectly into the Livi - allowing Livi's operators to securely and accurately monitor medication and patient interaction. Zipit gives more detail here, and the Charleston Post & Courier provides some more context for how this partnership helps seniors and others on multiple medications.

 

Portfolio news - August 2016

Many people may have been at the beach in South Carolina in August, but the VentureSouth portfolio companies continued to make waves.

First some product launches:

Servosity: Released its new generation disaster recovery platform

Pharmright: Reached a key milestone with the successful registration of Livi with the FDA. This should pave the way for sales in the fall, and will help start making prescription drug regimens easier to follow.

Baebies: Exhibited its novel FINDER platform at the AACC Annual Scientific Meeting and Clinical Lab Expo.

And secondly some well-deserved recognition:

We're proud to have not one, but two, portfolio companies nominated for 2016's Innovision Awards! - Atlas Organics and Crowdr TV. Impressive competition, but these are high caliber entries.

Avadim: named to the Inc 500's list of fastest growing companies: #234, with three-year sales growth of 1,675%!

Capital Angels and Palmetto Angel Fund Invest in SC-based PharmRight Corporation

COLUMBIA, S.C. – Capital Angels, the Midland’s angel investor group that is part of the statewide South Carolina Angel Network (SCAN), and The Palmetto Angel Fund, a collaboration between Capital Angels and the other angel groups affiliated under SCAN, is pleased to announce a new investment in South Carolina-based PharmRight Corporation. 

PharmRight has developed LiviTM, a cloud-connected, automated medication dispenser for use in homes and institutional care settings to improve medication adherence and reduce the burden on caregivers. Bill Park, CEO of PharmRight explained: “LiviTM is a product with nationwide scope and interest, but we are excited to have secured more funding from local investors to facilitate our commercial launch. SCAN’s diligence process was rigorous, so we are pleased to have convinced their investors to support our company.” 

Charlie Banks, Managing Director of Capital Angels and SCAN, noted “ We’re excited about Pharmright and their potential to make a meaningful impact on the lives of many. They are a great team and South Carolina is fortunate to have them building a company in our state.” 

SCAN groups, led by Greenville’s Upstate Carolina Angel Network, and the Palmetto Angel Fund also recently invested in Greenville-based startup TipHive, a cloud platform for improving knowledge sharing and communication within enterprises, ending a busy summer of investing in some of South Carolina’s most exciting early stage companies. 

SCAN, a professionally-managed network of over 200 angel investors, strives to generate attractive investment returns and strengthen the long-term economic health of our state by investing in innovative young companies. For more information on membership in Capital Angels, or any of the investor networks across SCAN, please visit www.scangelnetwork.com.

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SC Angel Network and Palmetto Angel Fund Invest in Charleston-based PharmRight Corporation

CHARLESTON, S.C. – The South Carolina Angel Network (SCAN) is pleased to announce a new investment made by the organization’s statewide groups of angel investors, in Charleston-based medical device company PharmRight Corporation. SCAN, a professionally-managed network of over 200 angel investors, strives to generate attractive investment returns and strengthen the long-term economic health of our state by investing in innovative companies. 

PharmRight has developed LiviTM, a cloud-connected, automated medication dispenser for use in homes and institutional care settings, to improve medication adherence and reduce the burden on caregivers. Bill Park, CEO of PharmRight explained: “LiviTM is a product with nationwide scope and interest, but we are excited to have secured more funding from local investors to facilitate our commercial launch. SCAN’s diligence process was rigorous, so we are pleased to have convinced their investors to support our company.” 

The investment was led by Lowcountry Angels, the SCAN affiliate based in Charleston, which was formed earlier in 2015. This was the first investment from the group. It was joined by investors from Asheville Angels, Spartanburg Angels, and Capital Angels in Columbia. Their investment was matched by the Palmetto Angel Fund, an investment fund that co-invests alongside SCAN groups. 

SCAN groups, led by Greenville’s Upstate Carolina Angel Network, and the Palmetto Angel Fund also recently invested in Greenville-based startup TipHive, a cloud platform for improving knowledge sharing and communication within enterprises, ending a busy summer of investing in some of South Carolina’s most exciting early stage companies. 

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