Portfolio Companies Subsequent Funding Rounds
We are thrilled to announce that several of our portfolio companies have had subsequent funding rounds recently! This news is particularly exciting as it indicates that, despite the pandemic and economic downturn, there is a drive towards a more sustainable future as well as a shift towards impact focused investing. We wanted to extend our congratulations to Meru Health, Elemeno Health, Ketos, and CNote. To commemorate their accomplishments and learn more about how entrepreneurs are continuing their fundraising momentum, we spoke to the founders of several of these companies.
Meru Health, a company dedicated to providing online mental healthcare through the treatment of stress, anxiety, depression, and burnout, raised $8.1M in their series A funding round. By providing mental health treatment from the comfort of your home, Meru has been an asset to many people throughout the ongoing COVID-19 crisis.
Kristian Ranta, CEO & Founder
Another particularly relevant company given the ongoing Pandemic, has been Elemeno Health, a platform dedicated to increasing the access and quality of medical information to frontline caregivers. With a plan specifically directed towards increasing communication and the flow of COVID related information, Elemeno is helping simplify and streamline medical content that is customized for every organization.
During their most recent fundraising round, Elemeno raised $2.9 Million, through a combination of funding from VC firms as well as Angel investors. Among their most notable investors was Impact Ventures, with an investment of $400k, and Dreamit Ventures, with an investment of 250k.
We spoke with co-founder and CEO Arup Roy-Burman to hear more about the future direction of Elemeno Health and any advice he could provide to other CEOs.
Dr. Arup Roy-Burman, Co-founder & CEO
Given your fundraising success during this pandemic, what advice would you offer other CEO’s trying to raise capital right now?
“Find a way to be relevant. COVID-19 has created a new normal -- we are not going back. Acknowledge it, and show (not just tell) investors how your solution leverages the opportunities created by this change. Don’t fight it. Ride it.”
Do you have any recommendations for investors looking to deploy capital right now?
“We are in a time of rapid change. Small companies have the agility to quickly adapt to challenges and exploit the opportunities. I like this synopsis on today’s challenge: ‘Stay Apart. Pull Together.’ Invest in those solutions which empower the user and foster connections -- and do so safely. Asynchronous, distanced, and collaborative.”
To learn more about Roy-Berman and the inspiration behind Elemeno Health, check out this recent interview.
Cat Berman, Co-founder & CEO
CNote
We also spoke with Catherine Berman, CEO of CNote, an organization dedicated to creating a more inclusive economy through their network of Community Development Financial Institutions (CDFI’s). CNote is particularly focused on funding loans to small businesses owned by women and people of color as well as bringing opportunity to low-income areas. Through their work, CNote is changing both individual lives through their investments in small businesses, while also changing entire communities.
Given your fundraising success during this pandemic, what advice would you offer other CEO’s trying to raise capital right now?
“Be clear on why your business opportunity is positioned for growth NOW. The relevancy of the time we are living in and both the challenges and opportunities it poses is a lens investors will apply.”
Do you have any recommendations for investors looking to deploy capital right now?
“Women are problem solvers and multi-taskers. I believe institutions would be well served to see what women led companies and conversations they had left on the back-burner and revisit those conversations. How are women founders leaning into COVID challenges and what investment and impact opportunities are present.”
In addition to our interview with Berman, she has also had several other articles written about her recently, including a great interview with Forbes about CNote’s offerings, partners, and vision. Additionally, Dartmouth’s Tuck School of Business announced their impact funds recent investment into CNote.