Klas, a Nigerian-based online teaching platform, has secured $1 million in pre-seed funding led by Ingressive Capital, with support from Techstars, HoaQ, and various angel investors. Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas offers a comprehensive solution for creating and selling e-books, courses, and live classes, aiming to streamline online education.

Simplifying Online Education

At the heart of Klas is a platform that simplifies the process of setting up and managing online schools. Similar to Shopify’s approach to online stores, Klas empowers users to create their virtual classrooms effortlessly. With essential features like scheduling, payments, community engagement, analytics, and video conferencing, Klas caters to a wide range of subjects, from coding and design to finance, art, and languages.

The Journey to Klas

Nathan Nwachuku, the co-founder and CEO of Klas, embarked on this venture at a young age, driven by a personal experience. Following an accident that resulted in a six-month hiatus from school, Nwachuku recognized the need for accessible online education platforms. His journey led to the inception of Klas, fueled by a passion for physics and a desire to make learning more accessible.

Bridging Gaps in the Market

Klas identified a gap in the market, recognizing that existing platforms could be overwhelming for first-time users. By offering a simple yet powerful toolset, Klas caters to beginners and seasoned educators alike. With a focus on user-friendly experiences and streamlined functionality, Klas aims to address the growing demand for online education worldwide.

Expanding Global Reach

Despite its Nigerian roots, Klas has garnered a global user base, with over 5,000 online schools and 300,000 learners across 30 countries. With a strategic focus on international expansion, particularly in India and North America, Klas aims to diversify its user base and enhance its global presence. By facilitating transactions in local currencies and offering tailored experiences, Klas seeks to meet the diverse needs of learners worldwide.

Future Growth and Innovation

Looking ahead, Klas is poised for exponential growth, with plans to power up to 100,000 online schools by 2027. While the platform currently offers a free plan with a nominal transaction fee, it anticipates introducing enterprise products to cater to large companies seeking to upskill their employees. With continued support from investors like Techstars and a commitment to innovation, Klas is set to shape the future of online education.

Synthetaic, a pioneering AI firm, harnesses the power of artificial intelligence (AI) to uncover patterns within vast datasets. With a focus on identifying hidden insights, the company utilizes cutting-edge technology to address critical challenges across various industries. Synthetaic’s recent funding round of $15 million in its Series B, co-led by Lupa Systems and TitletownTech, underscores its commitment to advancing computer vision capabilities and expanding its workforce.

Unveiling Insights from Data

In an era characterized by exponential data growth, organizations are increasingly seeking advanced AI solutions to manage and analyze vast amounts of information. Synthetaic’s CEO, Corey Jaskolski, emphasizes the growing demand for insights derived from image data, particularly in sectors such as defense, geospatial analysis, video security, and drone-based monitoring. By leveraging unsupervised learning and data analysis techniques, Synthetaic empowers businesses to navigate complex datasets and extract valuable intelligence.

Revolutionizing AI Training with RAIC

At the core of Synthetaic’s offerings lies Rapid Automatic Image Categorization (RAIC), a revolutionary tool designed to automate the analysis of large datasets, including satellite imagery and videos. Unlike traditional AI training methods that rely on human labeling, RAIC streamlines the process by identifying patterns within unlabeled data. By eliminating the need for manual annotation, RAIC accelerates AI development and enhances predictive modeling capabilities.

Applications Across Industries

Synthetaic’s innovative approach to AI training has garnered attention from various sectors, including defense, environmental conservation, and media. Collaborating with organizations such as the U.S. Air Force and The Nature Conservancy, Synthetaic has demonstrated the transformative potential of its technology. From object detection in geospatial data to species identification in wildlife conservation, RAIC offers versatile applications across diverse domains.

Addressing Industry Challenges

While the adoption of synthetic data in AI development presents opportunities for innovation, it also raises concerns regarding biases and ethical implications. Synthetaic remains committed to addressing these challenges by leveraging its expertise to ensure the responsible use of AI technology. By partnering with leading institutions and organizations, Synthetaic continues to pioneer advancements in AI model training and data analysis.

Future Outlook

As Synthetaic embarks on its next phase of growth, the company remains dedicated to driving innovation and operational efficiency through its AI solutions. With a focus on scalability and strategic partnerships, Synthetaic aims to empower businesses to overcome data-related obstacles and unlock new opportunities for growth. By harnessing the power of AI, Synthetaic is poised to shape the future of data analysis and decision-making across industries.

Ionix, formerly known as Cyberpion, offers enterprises a comprehensive solution to minimize their attack surface and enhance security across various platforms and services. With a focus on on-premises, cloud, and third-party environments, Ionix provides organizations with valuable insights into their security posture and software supply chain. Recently, the company announced an additional $15 million investment to supplement its existing $27 million Series A round.

Expanded Funding and Investor Support

The latest funding round was led by new investor Maor Investments, along with contributions from existing backers Hyperwise Ventures, Team8, and U.S. Venture Partners (USVP). This infusion of capital brings Ionix’s total funding to $50.3 million, underscoring investor confidence in the company’s mission and technology.

Addressing Supply Chain Vulnerabilities

As supply chain attacks become increasingly prevalent, Ionix aims to address the challenges faced by enterprises relying on numerous third-party services and tools. By offering a unified platform for managing the attack surface, Ionix empowers businesses to gain better visibility and control over potential security risks. The platform’s ability to extend beyond a company’s firewall provides crucial insights into vulnerabilities that may go unnoticed by traditional security measures.

Comprehensive Attack Surface Management

While attack surface management is not a novel concept, Ionix distinguishes itself by providing a more holistic perspective compared to its competitors. By leveraging precise mapping capabilities, Ionix helps organizations identify assets and vulnerabilities that may have been overlooked by conventional security tools. According to Ionix CEO Marc Gaffan, customers using Ionix discover 50% more assets than with alternative solutions, highlighting the platform’s effectiveness in enhancing security posture.

Customer Adoption and Market Uptake

Ionix has garnered significant traction in the market, attracting renowned enterprises such as Lexmark, Warner Music Group, Infosys, and E.ON. The platform’s ability to offer a comprehensive view of the attack surface, coupled with its focus on prioritizing critical exposures, resonates with organizations seeking robust security solutions. As cyber threats continue to evolve, Ionix remains committed to empowering businesses with the tools and insights needed to mitigate risks effectively.

In summary, Ionix’s latest funding round signifies a vote of confidence from investors and reinforces the company’s position as a leader in attack surface management. With its innovative approach and growing customer base, Ionix is poised to make significant strides in fortifying cybersecurity defenses for enterprises across various industries.

Finally, a fintech startup dedicated to automating accounting and finance tasks for businesses, has secured an additional $10 million in venture capital funding. Founded in 2018 by Felix Rodriguez, Glennys Rodriguez, and Edwin Mejia, the Miami-based company has made significant strides in streamlining business processes for small enterprises.

Evolution of Finally’s Offerings

Initially focusing on small business lending and bookkeeping capabilities, Finally has since expanded its services to encompass various aspects of business finance. According to Felix Rodriguez, the company’s recent efforts have centered on integrating functions like bookkeeping, expense management, bill payment, and payroll into a single automated platform for small businesses.

Integration of Artificial Intelligence

One of the notable additions to Finally’s platform is an artificial intelligence-powered ledger, which enhances the company’s bookkeeping capabilities. By leveraging AI technology, Finally aims to provide small business owners with deeper insights into their financial data, enabling them to make informed decisions. Additionally, Finally offers a corporate card to facilitate cash flow management for small businesses.

Rapid Growth and Market Response

The strategic enhancements made by Finally have resonated with small businesses, resulting in a significant increase in customer adoption. Rodriguez revealed that Finally now onboards over 1,000 new businesses per month, showcasing the platform’s growing popularity among entrepreneurs. While specific valuation and revenue figures were not disclosed, the company’s trajectory signals promising growth.

Utilizing New Capital for Expansion

The recent $10 million funding round, led by PeakSpan Capital with participation from Active Capital, will fuel Finally’s expansion efforts. The company plans to allocate the capital towards hiring initiatives, go-to-market strategies, and the enhancement of its technological infrastructure. This includes the development of mobile versions for its bookkeeping, expense management, and business banking apps.

Future Outlook

With the infusion of capital and the introduction of new products, Finally enters 2024 as a comprehensive fintech solution provider for small businesses. Jack Freeman, partner at PeakSpan Capital, expressed confidence in Finally’s potential, emphasizing the company’s commitment to empowering small enterprises. As Finally continues to leverage AI technology and expand its product portfolio, it aims to further support the financial success of small businesses in an increasingly competitive landscape.

Stellar Sleep, a pioneering startup in chronic insomnia management, has secured $6 million in seed funding to propel its innovative digital solution forward. With poor sleep habits impacting both the economy and individual health, Stellar Sleep aims to address the root causes of chronic insomnia through its groundbreaking mobile app.

Understanding the Chronic Insomnia Challenge

While numerous sleep-tracking apps and devices exist, Stellar Sleep’s focus is on chronic insomnia, a condition that affects individuals on a nightly basis for an extended period. Co-founders George Wang and Edrei Chua, both personally affected by chronic insomnia, recognized the limited accessibility to sleep clinicians and the over-reliance on prescription drugs. Determined to offer a psychological-based solution, they embarked on developing Stellar Sleep.

Psychological-Based Intervention

Stellar Sleep adopts a psychology-based methodology, drawing from sleep therapy techniques to empower users to regain control over their sleep patterns. Unlike traditional approaches reliant on medication, Stellar Sleep’s app guides users through cognitive behavior therapy, acceptance and commitment therapy, and motivational interviewing to address the underlying causes of insomnia.

Personalized Approach to Sleep Therapy

Upon downloading the app and completing an onboarding assessment, users embark on a personalized journey towards better sleep. The app integrates wearables and utilizes user data to tailor a comprehensive sleep improvement program. Clinical assessments have revealed Stellar Sleep to be 50% more effective than conventional sleeping pills, highlighting its efficacy in combating chronic insomnia.

Funding and Future Expansion

The $6 million seed funding round, led by Initialized Capital and supported by prominent investors such as Y Combinator, marks a significant milestone for Stellar Sleep. With plans to enrich app content, expand clinician partnerships, and enhance user personalization, Wang and Chua are committed to scaling their solution to reach a broader audience affected by chronic insomnia.

As Stellar Sleep continues to refine its product and distribution strategy, its mission remains clear: to revolutionize chronic insomnia management and empower individuals to reclaim restful sleep, irrespective of the underlying causes.

In the realm of construction, digital transformation has been slow to take hold, especially in regions like Latin America where the sector faces numerous challenges. However, startups like Nuqlea are pioneering innovative solutions to revolutionize the construction industry and address critical issues through the creation of robust ecosystems.

Addressing Industry Challenges

Latin America’s construction sector grapples with infrastructural deficiencies and outdated processes, hindering productivity and progress. Nuqlea, an Argentine startup, seeks to tackle these challenges by offering Nuqlea Studio, a B2B platform that functions as both a marketplace and procurement portal. By fostering collaboration among construction companies and streamlining procurement processes, Nuqlea aims to accelerate construction projects and drive industry-wide transformation.

Seizing the Opportunity

The potential impact of construction tech in Latin America is significant, given the region’s substantial population living in inadequate housing conditions. Despite the sector’s fragmentation and stagnant productivity growth, Nuqlea sees an opportunity to leverage its capital-light model to navigate the current investment landscape successfully. By eschewing inventory ownership and focusing on partnerships, Nuqlea aims to thrive amidst capital constraints and drive innovation in the construction tech space.

Strategic Funding and Expansion Plans

Nuqlea recently secured a $750,000 extension led by Foundamental, a venture capital firm specializing in construction tech investments. This funding will fuel Nuqlea’s expansion efforts in Argentina and pave the way for international growth, with plans to enter markets like Brazil and Mexico. By forging partnerships with key stakeholders, including builders, manufacturers, and financial institutions, Nuqlea aims to establish a robust ecosystem that fosters collaboration and drives industry-wide progress.

Leveraging Technology for Impact

While Nuqlea incorporates AI to enhance its platform’s capabilities, its focus remains on facilitating collaboration and connectivity within the construction ecosystem. By positioning itself as an articulator and catalyst for industry transformation, Nuqlea aims to drive social impact and contribute to the development of essential infrastructure across Latin America. Through its commitment to innovation and sustainability, Nuqlea seeks to generate both financial returns and societal benefits, ultimately shaping the future of construction tech in the region.

Jam, a startup aiming to transform and streamline internal bug reporting workflows, has secured a $9 million Series A funding round to further develop its innovative platform. Founded by Dani Grant and Mohd Irtefa, Jam seeks to revolutionize the process of bug fixing by automatically gathering comprehensive information related to bugs and delivering it directly to engineering teams, thus accelerating the resolution process.

Simplifying Bug Reporting with Jam

Traditional bug fixing workflows often rely on written reports from users, which may lack context and detail, leading to inefficiencies in the debugging process. Jam addresses this challenge by offering a browser extension that integrates with development tools and captures crucial information about bugs as they occur. When users encounter a bug, they can simply click on the Jam extension, which generates a link containing a 30-second video replay of the bug’s occurrence, along with console logs, network request timing data, and custom metadata such as user ID or team ID.

Enhancing Engineer Efficiency

By providing engineers with a comprehensive overview of the bug, including visual evidence and relevant technical data, Jam enables them to quickly understand the nature of the issue and take appropriate action to resolve it. This approach contrasts with traditional bug reports, which often require engineers to conduct extensive investigative work to identify and address the problem. With Jam, engineers have the information they need at their fingertips, allowing for faster and more efficient bug resolution.

Founders’ Journey and Product Development

Grant and Irtefa, both with backgrounds in product management at Cloudflare, recognized the challenges associated with bug reporting firsthand and launched Jam in 2020 to address this pain point. The founders iterated on the product multiple times before achieving success with the current version, which was released in April 2022. Their dedication to delivering a high-quality solution reflects their commitment to improving the bug fixing process for engineering teams.

Business Model and Growth Plans

Jam operates on a freemium model, offering its product for free to individual users while charging $10 per user per month for teams. Additionally, custom pricing options are available for enterprise customers with high-volume usage. The company currently serves 75,000 users with a team of 15 employees, prioritizing a lean and agile approach to team structure. With the new funding, Jam aims to further expand its user base and enhance its technology offerings, with the ultimate goal of becoming a leader in the bug reporting space.

Investor Confidence and Future Outlook

The $9 million Series A round was led by GGV Capital, with participation from Figma Ventures and prominent industry angels. Notably, partners Hans Tung and Glenn Solomon from GGV Capital are leading the investment, signaling confidence in Jam’s potential for growth and innovation. With this funding, Jam’s founders are poised to continue building on their success and emulate the achievements of industry giants like Airbnb and Slack.

SUMA Wealth, a California-based fintech company, has announced a significant milestone with $2.2 million in new capital raised to further enhance its suite of financial tools and services. The funding round was led by Radicle Impact, with participation from Vamos Ventures, OVO fund, and American Heart Association Impact fund, alongside existing investors such as Ulu Ventures, Female Founders Fund, and Chingona Ventures. This latest infusion brings SUMA’s total funding to $5.5 million.

Empowering Young U.S. Latinos

Founded by Beatriz Acevedo, Mary Hernandez, and Xavier Gutierrez, SUMA Wealth is dedicated to empowering young U.S. Latinos to achieve financial success. Recognizing the underserved nature of this demographic, Acevedo and her team set out to create a financial app tailored specifically to the needs of Latinos, offering culturally relevant content, products, and experiences to help them take control of their finances and build wealth.

The platform also collaborates with leading financial institutions such as Morgan Stanley, JP Morgan, and Wells Fargo to better serve the Latino community, leveraging advanced AI features to deliver personalized financial insights and guidance.

Personalized Financial Solutions

One of SUMA Wealth’s key strengths lies in its personalized approach to financial planning. By leveraging AI capabilities, the app delivers tailored recommendations and insights based on users’ cultural backgrounds and individual preferences. Whether it’s budgeting, investing, or saving, SUMA Wealth ensures that its users receive relevant and relatable guidance every step of the way.

Surprising Adoption Beyond the Latino Community

While initially targeted at young U.S. Latinos, SUMA Wealth has experienced unexpected adoption from non-Latino users as well. Despite its unapologetically Latino-centric content and features, the app has resonated with a diverse audience, with 30% of its user base comprising non-Latinos. This inclusive approach has contributed to the platform’s rapid growth, with a 62% annual increase in user numbers.

Continued Growth and Expansion

In addition to achieving significant user milestones, SUMA Wealth has witnessed a nearly fivefold increase in revenue over the past year. The company has also expanded its offerings through strategic acquisitions, including Intellecto, a learning management system, and Reel, a savings and personal finance platform. With this latest funding, SUMA Wealth plans to further enhance its technology infrastructure, expand its team across engineering, product development, and sales, and continue delivering innovative financial solutions to its growing user base.

In this edition of Found, we delve into the remarkable journey of Beatrice Dixon, the CEO and co-founder of The Honey Pot, a pioneering feminine care company celebrated for its commitment to natural ingredients. Joining Becca and Dom, Dixon shares insights into the genesis of her company, navigating the challenges of bootstrapping, and fostering a strong bond with The Honey Pot’s loyal customer base.

Exploring the Natural Ingredient Market

Dixon provides valuable perspectives on the current landscape of the natural ingredient market for feminine care products. With growing consumer awareness and demand for chemical-free alternatives, she sheds light on the evolving preferences driving this market segment forward.

Weathering Consumer Backlash

Reflecting on a pivotal moment in the company’s history, Dixon recounts how The Honey Pot faced its first major consumer backlash. Through transparency, resilience, and a steadfast commitment to its values, the company emerged stronger, solidifying its position as a trusted brand in the industry.

Penetrating Retail Channels

From humble beginnings to securing placements in major retailers, Dixon shares her early strategies for gaining traction and capturing the attention of buyers. The journey from bootstrapping to retail success underscores the perseverance and ingenuity required to thrive in a competitive market.

The Rise of Natural Care Companies

In the concluding segment, Dom and Becca examine the burgeoning market for care companies prioritizing natural ingredients. They explore the shifting preferences of younger consumers towards sustainable and eco-conscious brands and discuss The Honey Pot’s pivotal role in driving this movement forward.

As Beatrice Dixon’s inspiring story unfolds, it underscores the transformative power of entrepreneurship and the enduring appeal of brands that prioritize authenticity, innovation, and consumer well-being.

Adam Neumann, the co-founder of WeWork, is making moves to reclaim control of the flexible workspace provider, which he helped establish in 2010 before stepping down amid controversy in 2019. Reports suggest that Neumann, along with his latest venture Flow Global Holdings LLC and affiliated parties, is exploring the possibility of acquiring WeWork, currently navigating bankruptcy proceedings.

Attempted Buyback Efforts

In a recent letter addressed to The New York Times, legal representatives for Neumann and his associates expressed frustration with WeWork’s lack of cooperation in providing necessary information for their buyback proposal. The letter revealed collaboration with investors like Third Point, a hedge fund led by Dan Loeb, among others.

Neumann’s attorneys highlighted previous efforts to secure up to $1 billion in financing to stabilize WeWork in October 2022, only for the former CEO to abruptly terminate the process without explanation, leaving potential investors in limbo.

WeWork’s Financial Struggles

WeWork’s journey from a valuation of $47 billion to bankruptcy in November marked a dramatic fall from grace. With over $18.6 billion in debt, the company faced insurmountable challenges stemming from aggressive expansion and the accumulation of underperforming assets.

Despite the setback, WeWork remains optimistic about its future prospects, emphasizing ongoing efforts to address rent expenses and restructure its operations for long-term sustainability.

Response from WeWork and Third Point

When questioned about Neumann’s buyback endeavor, WeWork acknowledged receiving expressions of interest from external parties regularly. The company assured stakeholders that it would evaluate such proposals in the best interest of the company’s future.

Third Point, while confirming preliminary discussions with Flow and Neumann regarding their plans for WeWork, clarified that no commitment to participate in any transaction had been made at the time.

Implications for Flow and Investors

Neumann’s current venture, Flow, a residential real estate firm backed by Andreessen Horowitz, stands to gain significantly if successful in acquiring WeWork. Andreessen Horowitz, having made substantial investments in Flow, would likely become a shareholder in WeWork should the acquisition materialize.

As the saga unfolds, stakeholders await further developments in Neumann’s bid to regain control of WeWork, a pivotal chapter in the company’s tumultuous history.