Category: bain capital ventures

June 6, 2019 Off

Legacy, a sperm testing and freezing service, raises $1.5M

By Jill T Frey

Femtech is having a banner year, largely as a result of a massive uptick in venture capital financings for women’s fertility businesses. Men’s health companies, however, are having a moment too.

Legacy, a male fertility startup that won TechCrunch’s Startup Battlefield competition at Disrupt Berlin 2018, is today announcing a $1.5 million seed round led by Bain Capital Ventures. The news follows an announcement from Dadi, a sperm storage business that closed on $2 million in capital commitments from London-based seed fund firstminute capital and New York-based Third Kind Venture Capital four months ago.

Founder and chief executive officer Khaled Kteily tells TechCrunch that Legacy, which is based out of the Harvard Innovation Labs in Boston, will use the capital to expand its sperm analysis, improvement and cryogenic storage services.

Like the genetic testing business 23andMe, Legacy sends … Read the rest

May 24, 2019 Off

Lime’s founding CEO steps down as his co-founder takes control

By Jill T Frey

In an all-hands meeting this afternoon, the scooter and bike-sharing phenom Lime announced co-founder and chief executive officer Toby Sun would transition out of the C-suite to focus on company culture and R&D. Brad Bao, a Lime co-founder and longtime Tencent executive, will assume chief responsibilities, Lime confirmed to TechCrunch.

“Lime has experienced unprecedented growth in the global marketplace under the joint leadership of our co-founders Brad Bao and Toby Sun,” the company said in a statement provided to TechCrunch. “Fortunately, Lime’s structure allows for our executive leadership to be multipurpose and we are making a few changes to our team today to seize the opportunity ahead of us.”

Sun and Bao launched Lime together in late 2016. The San Francisco-based company had near-immediate success, attracting hundreds of millions in venture capital funding and reaching a valuation of more than $1 billion in only a year and a half. Today, … Read the rest

May 16, 2019 Off

OpenFin raises $17 million for its OS for finance

By Jill T Frey

OpenFin, the company looking to provide the operating system for the financial services industry, has raised $17 million in funding through a Series C round led by Wells Fargo, with participation from Barclays and existing investors including Bain Capital Ventures, J.P. Morgan and Pivot Investment Partners. Previous investors in OpenFin also include DRW Venture Capital, Euclid Opportunities and NYCA Partners.

Likening itself to “the OS of finance,” OpenFin seeks to be the operating layer on which applications used by financial services companies are built and launched, akin to iOS or Android for your smartphone.

OpenFin’s operating system provides three key solutions which, while present on your mobile phone, has previously been absent in the financial services industry: easier deployment of apps to end users, fast security assurances for applications and interoperability.

Traders, analysts and other financial service employees often find themselves using several separate … Read the rest