BIP Ventures portfolio companies accomplished extraordinary outcomes during 2023. As a partner and steward to all these hard-working, visionary entrepreneurs, we're genuinely admiring and humbled. Over the past 12 months, the companies in our portfolio have set new benchmarks in their respective industries and contributed positively to society. They have solved some of the most vexing challenges and elevated opportunities - and as they have done so, they have earned accolades from some of the most noteworthy organizations in the U.S. We're honored to have supported them as a partner and capital resource.
While we know that hitting the news cycle is not the sole marker of achievement, here are the biggest portfolio company news stories from 2023. Together, they tell a story of transformative growth and impact.
- U.S. News and World Report ranked ShiftMed as the Best Workforce Management Software for the Healthcare Industry. The company is recognized for its work to revolutionize staffing with on-demand, integrated solutions.
- Integrative Life Network and Integrative Health Centers merged to create Peregrine Health, a national platform of telehealth, outpatient, and residential services. The new company is working to redefine the patient journey for mental and behavioral health, and BIP Ventures supported their efforts by leading a $7M Series A fundraising round. The funding advances the operations of ILN and IHC, and the vision of Peregrine.
- MetaCX relaunched as Metaimpact™, a digital multi-stakeholder platform for managing large-scale problem-solving initiatives. The new entity is empowering organizations at the forefront of solving big problems like affordable healthcare, workforce development, and the racial wealth gap.
- BIP Ventures portfolio companies ShiftMed and PlayOn! Sports earned spots on the prestigious Deloitte Technology Fast 500 list. The recognition was based on each company's percentage fiscal year revenue growth. ShiftMed earned the #151 spot and PlayOn! Sports was listed at #511.
- Kythera Labs, a leading technology and data analytics company for the Healthcare and Life Sciences industries, announced $20M in Series A and debt financing from BIP Ventures and CIBC. The company will use the funds to support the continued growth and scale of Wayfinder, its data-transforming technology platform. It also is accelerating the development and adoption of new and existing offerings, and expanding key partnerships.
- First Stop Health, a leading virtual care company for primary, urgent and mental health care needs, acquired portfolio company SentryHealth Inc., an AI-driven employee health and well-being care management and advocacy platform that focuses on personalized care. The new entity will offer stronger virtual care solutions and high-quality, low-to-no-cost, patient-centered care offerings for employers and their employees.
- BIP Ventures welcomed Enrichly to the portfolio through the Venture Atlanta Startup Showcase Live pitch competition. The startup is saving lives by gamifying youth self-esteem. Since 2018, Enrichly has reached more than 20,000 students across the U.S. and 86% of the youth who have played the game report healthier behaviors.
- Two BIP Ventures portfolio companies, GameDriver® and Kobiton, announced a partnership. GameDriver is the premier automated testing solution for gaming and XR experiences, and Kobiton is the leading provider of mobile testing solutions. Together, the companies aim to address the unique challenges faced by game developers and QA professionals in ensuring five-star game quality by offering a solution that streamlines testing workflows. Mobile developers using game engines such as Unity and Unreal Engine can now more easily test their apps and games using the automated testing solution.
- Mediafly raised $80M to extend revenue enablement solutions to address the unique needs of large, complex enterprises. BIP Ventures led the funding round. The funding will advance the comprehensive revenue enablement platform, which is used daily by B2B go-to-market teams to engage buyers, prepare sellers, quantify value, and optimize sales force performance. Mediafly is the only provider to combine enablement and intelligence in a unified platform.
- PlayOn! Sports added industry powerhouses Michael Paull and Heather Friedland to its Board of Directors. The accomplished executives bring significant media and technology expertise to drive future growth and innovation.
- Six BIP Ventures portfolio companies earned spots on the 2023 Inc. 5000 list, which recognizes and ranks companies according to percentage revenue growth over the previous three-year period. The recognition puts the portfolio companies among the top 12% fastest-growing privately-owned companies in the country. They are: OncoLens (#316), ShiftMed (#622), SkillCycle (#625), PlayOn! Sports (#1615), Trella Health (#1698), and Mediafly (#3258).
- Mediafly named revenue technology visionary Mary Shea as Co-CEO alongside Carson Conant signaling the company's commitment to industry leadership. She brings experience that includes Chief Evangelist at Outreach and Principal Analyst at Forrester. Together, Shea and Conant will take the company into its next phase of growth and innovation.
- Mood Media, the world's premiere on-premise experiential technology and media company, acquired Vibenomics, the leading in-store digital advertising solution provider. Combining Mood Media's breadth and scale with Vibenomics' differentiated technology position in on-premise media solutions enables deeper insights for advertisers, increased revenue opportunities for brands, and greater consumer engagement and analytics at the point of sale.
- GoCoach rebranded as SkillCycle, reflecting a breakthrough solution for Human Resources (HR) and Learning and Development (L&D) teams. The rebrand came as part of the company's continual efforts to streamline the human capital tech stack and simplify programs for learners, managers, and HR professionals. SkillCycle improves the performance review, training, engagement, and career progression experience for everyone.
- The Rounds, a Canadian healthcare tech startup, closed a $6.7M Series A round, with involvement from BIP Ventures. Our investment represents a doubling down on supporting The Rounds physician network. The company's flagship product provides a free gated network for licensed healthcare professionals across North America to connect and collaborate. The funding allows the company to continue developing the platform and providing a secure, seamless, and intuitive user experience.
- SCW.AI by Supply Chain Wizard raised a $10M Series A round. BIP Ventures led the funding, helping SCW.AI to replicate its success and speed growth as it continues innovating ways to help pharma manufacturers deliver potentially life-saving prescription medications to a wider population.
For BIP Ventures portfolio companies 2023, was a year of commitment to progress, strategic innovation, and incredible resilience in the face of unexpected challenges. As a supporter and partner in the startup journey, we've had a front-row seat to progress. We're excited to be a part of it and for what 2024 will bring.