BlackRock Private Equity Partners

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

<div>
 
 Woebot is a psychotherapy chatbot designed to help people cope with mental illnesses like depression, anxiety, and substance abuse through cognitive behavioral therapy exercises. It first debuted as a Facebook Messenger app in 2017, and later developed as a standalone app. Around 4.7 million messages are exchanged with the bot per week. The system leverages AI and natural language processing to evaluate a user&rsquo;s emotional state and deliver the appropriate, clinically validated interventions.
 
 
 The company received FDA Breakthrough Device designation for its WB001 digital therapeutic solution in May 2021, which combines cognitive behavioral therapy,&nbsp;interpersonal psychotherapy, and dialectical behavioral therapy together with its chatbot intended to help individuals manage postpartum depression. The company also published a large-scale study that showed Woebot could help reduce substance use.
 
 
 
 
 Funding and financials
 
 
 In July 2021, Woebot Health completed a USD 90 million Series B funding round co-led by JAZZ Venture Partners and Temasek which was earmarked to build out its technologies, expedite the development of its new digital therapeutic products, and commercialize its three prescription-based therapeutic products in its pipeline.&nbsp;Additionally, the company secured an additional USD 9.5 million from Bayer AG's investment arm Leaps by Bayer in March 2022. The investment follows the partnership between Woebot Health and Bayer Pharmaceuticals under the&nbsp;
 <a href="https://sp-edge.com/updates/7051">
 G4A Digital Health Partnerships Program&nbsp;
 </a>
 announced in November 2021.
 
 
 
</div>

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

GoCardless is a British company offering an open banking platform for merchants to collect recurring and one-off payments directly from customer bank accounts. The platform also offers a global bank debit network, enabling merchants to access multiple markets through its platform (more than 30 countries as of February 2022). The platform can be integrated by merchants through a RESTful API (for simple integration), a pre-built payment page (embedded to client’s website), or a payment link (using GoCardless straight away).With regards to recurring payments, the company claims that its platform reduces payment costs by 56% and time to receive payments by 47%, compared to industry alternatives. In addition to settling payments, the platform also offers “Verified Mandates”, to verify new customers without hindering the checkout experience, and “Success+,” a machine learning-based payment intelligence tool. The company <a href="https://sp-edge.com/updates/11214?industryIds=53">expanded its operations to Germany </a>in June 2022, by launching “Instant Bank Pay” (for merchants to accept on-off payments) and Verified Mandates.In March 2024, GoCardless <a href="https://sp-edge.com/updates/27639">entered an agreement</a> to acquire Sentenial Ltd, which operates globally under the Nuapay brand, from EML Payments Limited for an undisclosed amount. Through this acquisition, GoCardless planned to leverage Nuapay's account-to-account payment services and open banking expertise to expedite the rollout of new disbursement capabilities and offer new payment verticals, such as payroll, financial services, utilities, insurance, gaming, and gambling. GoCardless <a href="https://sp-edge.com/updates/11419?industryIds=53">acquired Latvian open banking data provider Nordigen </a>in July 2022, to access Nordigen’s APIs, which connect to over 2,300 banks in Europe, across 31 countries. Through this, GoCardless can open up access to open banking account information services (AIS), and deliver data products for several use cases including credit assessments and customer engagement. The company also expanded its operations to France in September 2022, by launching its Verified Mandates in the country.However, <a href="https://sp-edge.com/updates/19342">GoCardless reportedly laid off </a>around 17% of its staff in June 2023, in an attempt to reduce 15% of its cost base.Key customers and partnershipsThe platform reportedly processed over USD 35 billion in payments annually and had over 85,000 business users as of March 2024.In 2021, the company entered several partnerships with companies including Epson (printer manufacturer), <a href="https://sp-edge.com/updates/5404">Gr4vy </a>, and Pennylane and Fiski (accounting platforms).Moreover, in December 2021, leading buy-now-pay-later (BNPL) company <a href="https://sp-edge.com/sectors/financial-services/updates/7341">Klarna selected GoCardless </a>to roll out Klarna’s “Pay in 4” offering and its financing solution offering in the US, using GoCardless’s open banking infrastructure and global bank debit network. The partnership was in line with GoCardless’ plans to expand its presence in the US — a market it entered in 2019 — as it doubled its headcount in 2021, and plans to expand the team by 125% in 2022.Funding and financialsGoCardless <a href="https://sp-edge.com/updates/8344">raised USD 312 million in Series G </a>funding in February 2022, at a valuation of USD 2.1 billion (more than double its USD 970 million valuation in December 2020), to invest in product and geographical expansions.

Technology to explore opportunities beyond Earth

Space Travel and Exploration Tech

Founded in 2021, Sierra Space is an independent commercial space startup that was created as a result of the transition of defense contractor Sierra Nevada Corporation’s Space Systems business area to an independent company.The company is developing the Dream Chaser Spaceplane, claimed to be the world’s first commercial spaceplane and only winged commercial spaceplane, with a NASA contract to fly cargo resupply trips to the ISS beginning late 2023. The Dream Chaser was set to launch early 2023 and is reusable and capable of a low, 1.5 g-force re-entry – for crew and cargo transportation – and can land on compatible commercial airport runways around the globe. The company is also developing the LIFE habitat (Large Integrated Flexible Environment), an inflatable three-story commercial habitation and science platform designed for low Earth orbit. The LIFE habitat has the capacity to sleep four astronauts, with additional room for science experiments, exercise equipment, a medical center, and Sierra Space’s Astro Garden system, which can grow fresh produce for astronauts. In <a href="https://sp-edge.com/updates/31995">July 2024</a>, Sierra Space concluded its second full-scale burst test of the LIFE module, and announced its plans to fly it as a standalone spacecraft and to test a module with a volume of 500 m3 by 2025.In <a href="https://sp-edge.com/updates/30892">June 2024</a>, the United Launch Alliance (ULA) announced that Dream Chaser’s launch abroad the Vulcan Centaur rocket was postponed. However, Sierra Space reports that the Dream Chaser is still set to launch by the end of 2024.Key customers and partnershipsIn October 2021, Sierra Space and Blue Origin announced that the companies are developing Orbital Reef, a commercial space station, backed by players including Boeing, Redwire Space, Genesis Engineering Solutions, and Arizona State University. Orbital Reef will be a commercially developed, owned, and operated space station to be built in low Earth orbit. The Dream Chaser and LIFE Habitat are critical components for Orbital Reef. In <a href="https://sp-edge.com/updates/14055">October 2022 </a>, the company signed a Memorandum of Understanding (MoU) with IBM to collaborate on space technology and software platforms for Sierra Space’s entire range of spacecraft and infrastructure. Sierra Space partnered with Keystone Space Collaborative in <a href="https://sp-edge.com/updates/14514">November 2022 </a>, to advance space economy and for the development of Orbital Reef.In <a href="https://sp-edge.com/updates/16778">February 2023 </a>, the company signed a five-year MoU with the University of Notre Dame for the exploration of space-based research and development in low-earth orbit (LEO), which includes identifying potential opportunities for R&amp;D payloads, conducting microgravity experiments, along with designing and developing hardware components to facilitate experimental objectives and commercialization of research findings. Further, in April 2023, Sierra Space entered a <a href="https://sp-edge.com/updates/17792">long-term strategic partnership </a>with engineering and manufacturing company ILC Dover to accelerate the development of next-generation space infrastructure. The companies were to collaborate on expediting the deployment of LIFE modules, as well as developing space suits for extra and intra-vehicular activity.In <a href="https://sp-edge.com/updates/20535">July 2023 </a>, Sierra Space secured a USD 22.6 million Air Force contract to advance the development of its VR35K-A engine for future launch vehicles. The contract will facilitate further work on the engine, including refining its flight-weight engine component design.In <a href="https://sp-edge.com/updates/31493">July 2024</a>, Sierra Space partnered MUFG Bank Ltd. and Tokio Marine &amp; Nichido Fire Insurance Co. Ltd, along with existing partners Oita Prefecture, Kanematsu Corporation, and Japan Airlines to explore the potential for a landing spaceport in Oita, Japan.

Empowering the digital revolution in retail

Digital Retail Enhancement Platforms

Contentsquare is a leading digital experience analytics platform that enables businesses to understand and optimize the user experience across web, mobile, and app platforms. Its AI-powered platform provides rich and contextual insights into customer behaviors, feelings, and intent at every touchpoint in their journey. Contentsquare's technology records user interactions and translates them into recommendations aimed at helping companies improve revenue, user conversion, engagement, and overall customer experience.
The platform analyzes over 3,200 billion customer interactions monthly on websites that process USD 2.5 billion in transactions daily. It scrutinizes various consumer interactions such as mouse movements, scrolling, content attractiveness, merchandising engagement, hesitation, friction, and frustrations, and calculates their impact on revenue and customers. Contentsquare's solutions encompass digital experience analytics, product analytics, digital experience monitoring, and voice of the customer capabilities.
In June 2024, Contentsquare announced its new Experience Intelligence platform, which integrated four previously-siloed analytics domains - digital experience analytics, digital experience monitoring, product analytics, and voice of the customer. This platform allows teams to connect separate data sources for a complete understanding of customers and their journeys. Contentsquare has also embedded AI throughout its platform to streamline analysis and provide smarter insights.
Contentsquare has accelerated innovation in recent years, following its USD 600 million Series F funding in 2022. It has made several strategic acquisitions, including Heap in 2023 and Hotjar in 2021, to enhance its product offerings. As of June 2024, Contentsquare has over 580 people working in product and R&D.
Key customers and partnerships
Contentsquare's customer base includes over 1,000 leading brands across various industries, such as ecommerce, B2B, finance, travel, and telecommunications. Notable customers include BMW, Giorgio Armani, Samsung, Sephora, Virgin Atlantic, OLLY, Verizon, and ASICS.
As of June 2024, over 1.3 million websites worldwide utilize Contentsquare's insights to optimize the customer experience.

From counting steps to saving lives and beyond

Wearable Tech

Elvie is a pioneering femtech company that develops innovative technology products designed to address women's health and wellness needs across various life stages. Founded in 2013 by Tania Boler, Elvie is at the forefront of revolutionizing the femtech industry through its groundbreaking solutions.
Elvie's flagship products include the Elvie Trainer, an award-winning pelvic floor exerciser, and the Elvie Pump, the world's first silent, wearable, and hands-free breast pump. These products leverage cutting-edge technology, such as bio-feedback and connected mobile apps, to provide superior solutions for issues like pelvic floor weakness and breastfeeding challenges.
In addition to the Trainer and Pump, Elvie has expanded its product portfolio to include the Elvie Stride, a hospital-grade electric breast pump, the Elvie Curve, a manual silicone in-bra breast pump, and the Elvie Catch, secure milk collection cups. These products cater to various breastfeeding needs, offering convenience and freedom for nursing mothers.
Elvie's products have received numerous accolades, including TIME Magazine's 100 Best Inventions for the Elvie Pump and Elvie Stride, as well as multiple Red Dot design awards. The company's commitment to innovation and user-centric design has disrupted the femtech market and empowered women to take control of their health and wellness.
In April 2024, Elvie released its first-ever report, "The Motherload: The weight of limited postpartum support," highlighting the challenges faced by mothers during pregnancy and the postpartum period. This report aimed to raise awareness and drive change in maternal health support systems.

AI-based solutions to level the playing field against email threats

Next-gen Email Security

Cofense provides email security solutions designed to detect and respond to advanced phishing attacks that bypass traditional secure email gateways (SEGs). The company's core offering, Cofense Phishing Detection and Response (PDR), is a comprehensive platform that combines security awareness training, phishing email detection and analysis, and automated response capabilities.
At the heart of Cofense's technology is the Phishing Intelligence Network (PhIN), a global network of over 35 million users actively reporting suspected phishing emails. This crowdsourced intelligence enables Cofense to identify and analyze phishing threats in real-time, including those that evade existing email security solutions.
The PDR platform utilizes various techniques to combat phishing attacks. Cofense Protect employs Computer Vision technology to inspect emails after they pass through existing security controls but before reaching the user's inbox. This patented AI technology can identify multi-level phishing attacks by mimicking human visual perception cues.
When a phishing email is identified, either by users or Cofense's automated systems, the platform's Triage component analyzes and clusters the threat based on payload similarities and reputation scoring. Confirmed phishing attacks are then automatically quarantined across the organization using the AutoQuarantine feature, removing the need for manual intervention.
Cofense's solutions not only protect against phishing attacks but also evolve with threat actors' tactics. The company provides deep analysis of the current threat landscape and emerging trends, enabling proactive defense against new phishing techniques.

Using AI to mimic and understand human language

Natural Language Processing Tools

Woebot Health is a company that develops digital mental health solutions, with its flagship product being the Woebot app. Launched in 2017, Woebot is an AI-powered chatbot designed to provide on-demand mental health support. The app uses natural language processing and a rules-based engine to deliver evidence-based tools inspired by cognitive behavioral therapy (CBT). Woebot aims to help users manage emotions, deal with procrastination, and address feelings of anxiety, depression, and loneliness. The conversational interface of Woebot is pre-scripted, with content crafted by an internal team of writers and reviewed by clinicians. This approach ensures that interactions remain controlled and clinically appropriate. Woebot Health emphasizes a science-driven approach, having published peer-reviewed studies on the acceptability and effectiveness of their product. In 2023, the company shifted its focus to make Woebot available primarily through partnerships with health plans and health systems in the US, rather than as a direct-to-consumer app. Woebot Health is exploring the potential of large language models (LLMs) in mental healthcare through a methodology they call "Science in the Loop", which combines LLMs with experimental methods and a mechanistic framework of mental health to improve product experience and outcomes.

Building future-ready applications in the cloud

Cloud-native Tech

<div>
 
 Qumulo is a cloud-native data storage solution that helps users store and manage data across the cloud and edge.
 
 
 Qumulo&rsquo;s Scale Anywhere data platform&rsquo;s features include Qumulo for Cloud, which allows users to scale and drive critical workloads on the cloud of their choice:&nbsp;
 
 Qumulo for Data Center, which enables users to scale on the platform of their choice and provides performance options All-NVMe (Non-Volatile Memory Express) Nodes and Hybrid NVMe Nodes&nbsp;
 
 Qumulo for Edge which simplifies the ingestion and processing of data in one location (while running on the private, hybrid or multi-cloud) and moving them across clouds and on-premises with ease
 
 
 Qumulo claims to be a breakthrough leader in simplified unstructured data management workloads at any scale by providing a single software solution to manage, store, and curate data in the cloud and core data centers and at the edge.
 
 
 Qumulo offers its products through direct sales and channel partners.
 
 
 Key customers and partnerships
 
 
 Qumulo has a 1,000+ global customer base across industries and sectors such as education, finance, healthcare, professional sports, public sector, media and entertainment, and technology. Some of its customers are Hexagon, SDSC, Lexington Medical Center, Cinesite, Eikon Therapeutics, Rodeo FX, and Arizona Public Media.
 
 
 Qumulo&rsquo;s partners include public cloud providers Google Cloud, Microsoft Azure, and Amazon Web Services (AWS); hardware partners such as Fujitsu, Hewlett Packard Enterprise, Arrow, and Supermicro; and technology partners Rubrik, Veritas, iTernity, Commvault, Komprise, Netwrix, Arxscan, Arista, Western Digital, and Yadle.
 
 
 Funding and financials
 
 
 Qumulo&rsquo;s latest funding was in July 2020 from a USD 125 million Series E round led by BlackRock Private Equity Partners.
 
 
 
</div>

At GoCardless we believe bank payments are the best way to pay and get paid. And bank account data is a powerful tool for businesses to make better, faster decisions. So we’re making it easy to use both. Collect payments – domestic or international – without the chasing, stress, or expensive fees. And securely access data from your customers’ bank accounts to enhance your products and manage risk, with connections available to 2,300+ banks across Europe. Today, we help over 75,000+ businesses around the world to power their payments. We’re a global team, with offices in London, Paris, Riga, Melbourne and New York.

Leightal Capital Management is a global hedge fund that invests in a variety of asset classes, including equities, fixed income, and commodities. The fund is managed by a team of experienced professionals with a proven track record of success. Leightal Capital Management is committed to providing its investors with superior returns over the long term. The fund's investment philosophy is based on the belief that alpha can be generated by identifying and investing in mispriced assets. The fund's investment team uses a variety of research and analysis techniques to identify mispriced assets. The team also has a strong focus on risk management and capital preservation. Leightal Capital Management is a good choice for investors who are looking for a long-term investment partner with a proven track record of success.

Sierra Space is a leading commercial space company at the forefront of innovation and the commercialization of space in the Orbital Age®, building an end-to-end business and technology platform in space to benefit life on Earth. With more than 30 years and 500 missions of space flight heritage, the company is reinventing both space transportation with Dream Chaser®, the world’s only commercial spaceplane, and the future of space destinations with the company’s inflatable and expandable space station technology. Using commercial business models, the company is also delivering orbital services to commercial, DoD and national security organizations, expanding production capacity to meet the needs of constellation programs. In addition, Sierra Space builds a host of systems and subsystems across solar power, mechanics and motion control, environmental control, life support, propulsion and thermal control, offering myriad space-as-a-service solutions for the new space economy.

Own Company is a software company that offers a data platform for organizations. The platform is designed to protect and activate SaaS data, which can help businesses transform their operations. The company's services include automated backups and rapid recovery, which can prevent the loss of mission-critical data and metadata. Own Company was formerly known as OwnBackup.

Elvie is a health and lifestyle brand developing smarter technology for women. They are committed to building extraordinary products that improve the health and lives of women everywhere and at all stages of life. Their first product, Elvie Trainer, is an award-winning app-connected Kegel trainer that helps women strengthen the pelvic floor via fun, five-minute workouts. Launched in October 2015 to great acclaim, they took the wellness industry by storm! Our street cred includes more than 12 awards for innovation and design, including the prestigious CES Innovation Award, the IDA Design Award, and the Red Dot Award. As a business, Elvie has been recognized as one of Wired’s ‘hottest start-ups'' and named one of the 15 start-ups ''to watch'' by The Sunday Times, and both products have been featured in the Oscar nominee gift bags. They recently launched a second innovation: Elvie Pump, the world’s first silent wearable breast pump, which is making it possible for new mothers to pump anytime, anywhere. Elvie Pump received international praise following its unveiling on the catwalk at London Fashion Week and at the Consumer Electronics Show (CES) in Las Vegas. In April 2019, Elvie announced a $42 million Series B led by IPGL and supported by Octopus Ventures and Impact Ventures. This represented the largest ever fundraise in femtech. This new round of financing will accelerate Elvie’s research and development efforts as well as help grow brand awareness and distribution for Elvie Pump and Elvie Trainer across the Americas, Europe, and Asia. Headquartered in London, UK, with offices also in New York City, the company has received numerous awards and raised more than $52 million in investment.

Woebot Health is a mental healthcare center for people and businesses. Their behavioral health platform combines sophisticated AI, decades of clinically-proven therapeutic research, and an engaging relational agent called Woebot, which together form the foundation for delivering continuous care via purely digital, empathic, and personalized apps that are easy to talk to and fit right into people’s lives.

Contentsquare delivers the power to make the digital world more human. Its AI-powered platform provides rich and contextual insight into customer behaviors, feelings and intent — at every touchpoint in their journey — enabling businesses to build empathy and create lasting impact. The global leader in digital experience analytics, Contentsquare helps brands everywhere transform the way they do business, allowing them to take action at enterprise scale and build customer trust with security, privacy and accessibility. Founded in Paris and with offices around the world, Contentsquare has raised $1.4B in investment funding from leading investors, including funds and accounts managed by BlackRock, Bpifrance, Canaan, Eurazeo, Highland Europe, KKR, LionTree, Sixth Street and SoftBank Vision Fund 2. For more information, visit www.contentsquare.com

Grupo Axo is a leading multi-brand company in Mexico for apparel, footwear, beauty, accessories and home furniture. Today the company is a reference and a reliable resource for brands that want to build a successful platform within Latin America. With a solid retail and wholesale experience for over 23 years, its expertise comes from representing, elevating equity, distributing and operating brands through a multi-channel approach. As of 2017, Grupo Axo operates more than 3,100 points of sale within major department stores and over 500 retail points of sale in both Mexico and Chile, and solid and successful e-commerce platforms in both mono-brand and multi-brand formats.

Krauser Enterprises Inc. is a diversified holding company that invests in, acquires, and manages a portfolio of companies across a wide range of industries. We are committed to creating long-term value for our shareholders by partnering with exceptional management teams and building strong businesses. We invest in companies with strong growth potential and a proven track record of success. We are particularly interested in companies that operate in industries with attractive long-term trends and that have a competitive advantage. We are an active investor and work closely with our management teams to develop and execute strategic plans that will drive growth and profitability. We also provide our companies with access to capital, resources, and expertise to help them achieve their goals. Krauser Enterprises Inc. is a trusted partner for businesses of all sizes. We are committed to helping our companies succeed and to creating value for our shareholders.

Qumulo is the file data platform for multi-cloud environments, providing unrivaled freedom, control and real-time visibility for file data at massive scale. The Qumulo experience makes file data management simple with continuous new features, a single solution for all workloads, and access to customer success experts on your schedule.

Trustly is delivering the most logical way to pay online that supports leading brands in boosting their conversion and providing world-class user experiences.''

Cofense is the original email PhishMe® simulation training provider with enterprise-level threat detection and response solutions. The Cofense Phishing Detection and Response (PDR) platform leverages a global network of thousands of businesses with over 35 million Cofense-trained employees who actively report suspected phishing and other dangerous attack threats. Exclusive only to Cofense, this reporting system ingests and catalogs thousands of threats per day that are missed by all of the current email gateway technologies, and then eradicates the threat from all inboxes for all of our customers. In short, Cofense sees what other systems miss.

Coupang is an e-commerce company. The company sells apparel, electronics, footwear, food products, furniture, nutritional supplements, and other products. Its segments include product commerce and developing offerings.

Ultragenyx Pharmaceutical develops therapeutics for rare diseases, sometimes referred to as Orphan products. Ultragenyx  is a efficient and effective development strategies are essential for success in the rare disease space, in which information may be incomplete or ambiguous, and few development precedents exist. The management team's experience in selecting and developing products with clear mechanisms of action for untreated rare diseases will help Ultragenyx create life-changing therapeutics by leveraging existing yet undeveloped science for these little-known indications.

BlackRock Private Equity Partners is a venture capital firm specializing in direct and fund investments. The firm offers a range of solutions for institutions, financial professionals, and individuals from all walks of life. It was founded in 1988 and is headquartered in Seattle, Washington.

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