LogicGate Raises $7.5 Million to Accelerate Risk and Compliance Automation

Chicago, Illinois, July 24, 2018 – LogicGate, a workflow automation software platform for governance, risk, and compliance, has raised $7.5 million in a Series A round led by Jump Capital, with participation from High Alpha and existing investors.

LogicGate’s Board of Directors will now include Michael McMahon, Managing Partner of Jump Capital; Mike Fitzgerald, Co-Founder and Partner of High Alpha; Matt Kunkel, CEO of LogicGate; and Jon Siegler, COO of LogicGate. Scott Dorsey, Managing Partner of High Alpha, will serve as an advisor to the company.

With this investment, LogicGate’s total funding reaches $9.4 million since its launch in 2015 by co-founders Matt Kunkel, Jon Siegler, and Dan Campbell. The additional capital will be used to bolster the LogicGate team, adding 50 new positions to their Chicago office by 2019 across several functional areas: Engineering, Product, Marketing, Sales, and Customer Success.

“Our partnership with Jump Capital and High Alpha represents an important next step in LogicGate’s journey,” said Matt Kunkel, LogicGate’s CEO. “While we are thrilled with our growth over the past 18 months and expect to continue this growth, we are most proud of the new and innovative ways our platform is empowering professionals in the risk and compliance space. We’re providing our customers with transparency to reduce risk, eliminate compliance violations, and improve operational effectiveness. This capital will help us expand our team into new markets and, more importantly, allows us to continue to invest in the LogicGate platform to give professionals in the risk and compliance community a world-class solution.”

LogicGate’s software-as-a-service platform was built with ease of use in mind for the business process owner – enabling businesses to quickly operationalize and automate their complex and manual risk and compliance programs by using pre-built process templates for things like enterprise risk management, controls testing, and third-party risk assessments.  The platform can be configured with a simple drag-and-drop interface, without a single line of code, achieving very quick implementation times and eliminating the large services costs that come with legacy GRC platforms.

“With a rapidly changing regulatory landscape, the need for GRC workflow automation will only continue to grow. We view LogicGate’s highly configurable and scalable platform as perfectly positioned to solve the automation challenge for enterprises of all sizes across a broad range of governance, risk, and compliance use cases,” said Jump Capital Managing Partner, Michael McMahon.

“LogicGate is bringing an innovative, subscription software solution to the legacy GRC industry, helping some of the world’s largest companies become self-sufficient in how they manage and run their risk and compliance operations,” said High Alpha Co-Founder and Partner, Mike Fitzgerald. “We’re thrilled to be investing in Matt and the LogicGate team. They have highly relevant experience addressing these needs for large corporations and are well positioned to build a category leading software platform in the GRC market.”

About LogicGate:

Headquartered in Chicago, LogicGate is a leading workflow automation software platform enabling organizations to automate and centralize risk and compliance programs. As an agile and highly configurable platform, LogicGate empowers organizations to transform mission-critical risk and compliance activities without the support of consultants or corporate IT. For more information, visit logicgate.com and follow on Twitter at @LogicGateApp.

About Jump Capital:

Jump Capital is an expansion and growth stage investment firm focused on opportunities in data-driven, enterprise software companies across a breadth of industries. With offices in Chicago and New York, Jump leverages its deep technical expertise and institutional-level operating resources to impact the success of its portfolio companies.  For more information, visit http://www.jumpcap.comand follow on Twitter at @jumpcapital.

Regroup Closes Growth Round, Adds CFO

CHICAGO – June 26, 2018 – PRLog — Regroup, a leading virtual behavioral healthcare organization, recently closed a $5.5 million growth round of funding. Frist Cressey Ventures, Further Fund, HBS Angels of Chicago, HLM Venture Partners, Hyde Park Angels, CA Ventures, and OSF Ventures, all among the group of Series A major investors, contributed to the round. “Our investors are investing in us, our mission and the great progress we’ve made in these last months. Their support allows us to make a meaningful difference in the lives of thousands of patients across the country who otherwise may not be able to access these badly needed behavioral health services,” said David Cohn, Founder and CEO of Regroup.

Regroup will welcome two additional board members, Chris Booker of Frist Cressey Ventures and Vin Fabiani of HLM Venture Partners.”The combination of technology and an extensive network of quality behavioral health providers is key to addressing one of our nation’s biggest healthcare challenges. We are happy to partner with Regroup as it furthers its mission to expand access to behavioral health services,” commented Chris Booker, partner at Frist Cressey Ventures.

This recent round of funding will be used to further invest in Regroup’s sales, clinical teams, and operations. Regroup recently added a CFO to its senior management team. Kim Hill, CPA, brings a diverse background in senior finance and operations in startups, mid-size and Fortune 100 companies.

“I am thrilled to join David and the other seasoned members of the Regroup leadership team as we enter this next phase of growth, transforming behavioral health service delivery,” said Hill.

ABOUT REGROUP

Regroup provides integrated telepsychiatry services to health care entities and their patients across the United States. With its nationwide network of behavioral health clinicians, proven process, and virtual care platform, Regroup provides services to over 100 care sites across settings including primary care, outpatient behavioral health, tribal communities, and corrections. For more information, visit regrouptelehealth.com.

Contact
Emily Kohler
***@regrouptelehealth.com

Kin Insurance Raises $13M in Financing, Welcomes New Board Member

With its latest round of funding and new board member Caribou Honig, online home insurance startup Kin Insurance moves to service national markets.

CHICAGO (PRWEB) JUNE 11, 2018

Kin Home Insurance, an insurtech startup that’s simplifying and transforming home insurance, closed $13 million in funding so it can help protect homeowners nationwide. Kin also welcomed Caribou Honig, chairman and cofounder of the InsureTech Connect conference and a founding partner of the boutique venture capital firm QED Investors, to its board.

Since its official launch in 2017, Kin has provided home insurance in Florida and Texas, but plans to make its offerings available nationally by the year’s end. Its latest round of financing, backed by the Silicon Valley VC firm August Capital, will help the company launch new products over the next two quarters. Previously, Kin raised $4 million from leading venture capitalists and angel investors, among them Commerce Ventures, Omidyar Network, 500 Startups, Chicago Ventures, and Portag3 Ventures.

Seasoned insurtech veteran Honig brings years of insurance and data-driven marketing experience to this next stage of growth for the company. His expertise will help guide key decisions as Kin expands its reach.

“The insurance industry is long overdue for change,” Honig said. “It’s exciting to work with a company that can see beyond the status quo. Instead of slightly improving the product, Kin aims to reinvent home insurance.”

Historically, buying home insurance meant long applications, complex policies, limited offerings, and time lost on the phone with a local broker. Kin created an all-online process that prioritizes simplicity, affordability, and convenience. Homeowners can get a quote in seconds with just their address, and Kin can insure homes in riskier regions that are often overlooked by big insurance companies.

“Owning a home is challenging enough. We think insuring it should be easy,” Kin CEO Sean Harper said. “Some home insurance applications are so complicated you’d have to be a home inspector to accurately fill them out. So we rely on data to tell us what we need to know about the home. It saves the homeowner legwork and lets us offer the right coverage at a good price. That’s the kind of change we want to bring to the national level.”

“HappyCo is a modern Australian success story, and we see a very bright future ahead because of its industry-leading technology and proven track record of execution,” says Alium Partner Rajeev Gupta. “We focus our investments in Australia-based companies that will build highly-scalable and globally-dominant businesses, and HappyCo has that perfect recipe.”

With this round, HappyCo will invest in R&D operations in Australia and the U.S. and build out the support team to sustain its growing Asia-Pacific customer base. This round demonstrates HappyCo’s increasing market share as a leading technology provider to Australia’s real estate and financial sectors. Chris Rolls, Managing Director of PieLab, says, “We’re delighted to be involved with such a high-growth business that is playing a critical part in the technology ecosystem of the global real estate management market. HappyCo’s platform is deeply integrated into the operations of companies who manage billions of dollars of property globally.”

Alister Coleman, Managing Partner of Sydney-based venture capital firm Tempus Partners, believes HappyCo is a key player in disrupting one of the world’s most valuable industries. “Jindou and the HappyCo team have built a world-class platform that is transforming the way property and site inspections are conducted across the corporate-managed real estate industry — a market with over 7 trillion dollars of assets that is in the middle of migrating to the cloud. We are thrilled to back a laser-focused team that has achieved international success and a global customer base, yet retained its engineering talent and roots in Adelaide.”

ABOUT HAPPYCO

HappyCo (happy.co) is a San Francisco-based software company that builds mobile and cloud solutions to enable real-time property operations. Its Happy Inspector product is used by thousands of companies and has captured more than 100 million items inspected. The company was founded in 2011 and is privately held.

CHICAGO–(BUSINESS WIRE)–Truss, a Commercial Real Estate (CRE) tech platform, today announced the close of a $7.7 million Series A round led by Navitas Capital. Additional investors include Hyde Park Angels with a board seat to Jeffrey Hammes, Chairman of Kirkland & Ellis and a board observer role by Meredith Mendes, COO and Executive Director of Jenner & Block. Hyde Park Venture Partners is reinvesting after the initial seed round. With the latest funding, Truss has raised over $9 million in total capital.

Truss was created to solve a crucial pain point in the CRE industry: the office search process for companies needing space under 10,000 square feet. Truss will use the investment for additional market expansion, product development and improving the customer experience using Matterport’s best of breed 3D touring technology.

“There is a huge unmet need to help streamline the leasing process for small tenants and landlords. Therein lies the opportunity for Truss, which is uniquely positioned to provide content, context, and transparency – leveraging a technology-based listing and brokerage platform,” said James Pettit, Co-founder and Managing Partner, Navitas Capital. “We are excited to watch the team at Truss solve the challenges that small tenants and landlords have been facing when it comes to finding and leasing office space.” James Pettit will also be joining the Board of Directors.

This funding comes after two successful launches in Chicago and Dallas.

“With this latest round of funding we are able to further refine our solution and bring it to more places,” said Tom Smith, Co-Founder, Truss. “We’re excited to overcome the hurdles that startups, SMBs and other tenants looking for smaller office spaces have had to face.”

“Efficiency hasn’t yet been addressed in the commercial real estate industry,” said Peter Wilkins, Managing Director, Hyde Park Angels. “CRE is now ripe for disruption. Given the overall economics and the team’s previous success, we believe Truss is in a great position to drive market adoption and traction.”

“We are excited to provide Truss with additional capital to help them realize their vision of simplifying real estate transactions for growing businesses. Truss’ experienced management team, differentiated market approach and product vision are truly compelling to us and we look forward to working together,” said John Hoesley, Group Head of Technology Banking, The PrivateBank. The PrivateBank is providing venture debt financing for the transaction.

About Truss

Truss simplifies the process of finding and leasing office space. Its web and mobile platform enables businesses to go from search to lease with ease. More information about Truss and how to lease office space is available at www.buildtruss.com.

Contacts

Elisco Communications
Kate Elisco
312-480-6780
kate@eliscocommunications.com

Kin Insurance Launches Modern Home Insurance, Announces $4.0M Financing