Startups and investors faced many challenges in 2023 from macroeconomic uncertainty, the collapse of Silicon Valley Bank, and rising interest rates, which collectively led to a significant tightening of the capital markets and elongation of buying cycles. Our portfolio responded to emerge more resilient businesses, and we commend the effort and dedication of the teams with which we are honored to partner. Three companies navigated the choppy M&A market to successful exits, while two others made strategic acquisitions, and four secured external capital. Overall, the portfolio is poised for a strong 2024. 

The need for innovative B2B software solutions only increased in 2023 as AI advancements made businesses across every sector rethink what was possible, and OVP remained active with four new investments during the year. We are energized by the trillion dollar imperative to transform the future of work through AI, and look forward to supporting the next generation of entrepreneurs building solutions to capitalize on this tremendous opportunity. 

We hope that you enter 2024 with a similar level of optimism for the future in both the short and long term. Should you find an opportunity for collaboration or support, don't hesitate to reach out, and please stay connected with our updates on our website, blog, and social media.

The OVP Team.

LinkedIn  Twitter  Web

New Investments

Arcanna.ai Announces $3.5M Investment to Advance Decision Intelligence Platform

December 2023

Arcanna.ai announced today the company raised $3.5 million in a seed round led by Lytical Ventures with participation from Osage Venture PartnersDefinedIsometric Ventures and John Stewart. Read the press release here and Why We Invested here.

Trulite Health Closes $7M Series A Funding Round

August 2023

TruLite Health, the leader in health equity solutions, announces the close of a $7 million Series A financing round to fund the commercial growth of the organization. The financing was led by Osage Venture Partners with participation by Ensemble Innovation Ventures, Xcellerant Ventures, and several existing seed investors. Read the press release here and Why we Invested here.

Incentivio Raises $10M to Help Restaurants Use AI to Drive Revenue and Guest Engagement

June 2023

Incentivio, the all-in-one intelligent guest engagement platform for restaurants, has closed $10M in Series A Funding. Osage Venture Partners led the round with participation from Ardent Venture Partners and Grotech Ventures. Read the press release here and Why We Invested here.

Portfolio Financings

Home-Focused Network Management Company Dina Raises $7M

February 2024

Dina - a digital network management company for home and community-based services - recently closed a $7 million funding round. Read More

Strategikon Closes Series A1 Funding Round to Modernize Clinical Trials Business Operations Worldwide

February 2024

Strategikon, a provider of cloud-based solutions that optimize and accelerate the budgeting, planning, outsourcing, and vendor management of clinical trials, has recently closed an over-subscribed $7.0M Series A1 financing round. Read More

Norfolk Southern, DrayNow partner to improve Customer Experience

September 2023

Norfolk Southern Corporation (NYSE: NSC) announced Wednesday an $8 million investment in DrayNow, Inc. and the formation of a joint venture to transform the intermodal capabilities of rail. Read More

DeepHow Raises $14M to Help Accelerate Business Growth

May 2023

Owl Ventures, a specialist in education technology investing, led the round, with participation from another new investor: LG Technology Ventures. Existing investors Sierra Ventures, Qualcomm Ventures, Osage Venture Partners, and Foothill Ventures also participated in the round. Read More.

Portfolio Exits

Radancy Acquires Brazen to add Hiring Event Capabilities to the Talent Acquisition Cloud

October 2023

Brazen adds a best-in-class solution for managing both virtual and in-person recruiting events, enhancing Radancy’s SaaS platform focused on helping enterprises find the talent they need to strengthen their business. Read More

RiskLens acquired by Safe Security for an Undisclosed Amount

August 2023

Spokane-based cybersecurity and risk management company RiskLens has been acquired by Palo Alto, California-based Safe Security for an undisclosed amount, according to a press release. Read More

Portfolio Acquisitions

Noodle Acquires Meteor Learning and Design Firm Hubble Studios

January & August 2023

Noodle, higher education's leading strategy, services and technology partner, has completed the acquisition of Meteor Learning, a Certified B edtech corporation based in Burlington, Massachusetts and Hubble Studio, a global e-learning design firm headquartered in Cape Town.

Connectbase Acquires LastMileXchange and MasterStream

May & December 2023

Connectbase, The Industry Cloud for Connectivity, acquired London based LastMileXchange (LMX) and MasterStream, a telecom-centric configure-price-and-quote platform.

Portfolio Awards & Announcements

MarginEdge, FOUNT, and Indico Data Named as Best Places to Work

January 2024

MarginEdge was recognized as the 7th best place to work in the US by Glassdoor, FOUNT earned a spot on the Built In Washington D.C. Best Places to Work List, and Indico was named as one of the Best Places to Work in Boston by Built In.

Indico Data Named as a Leader in Intelligent Document Processing by Quadrant Knowledge Solutions

January 2024

Quadrant Knowledge Solutions announced today that it has named Indico Data as a 2023 technology leader in the SPARK Matrix analysis of the global Intelligent Document Processing market. Read more

TeachFX receives Award for Voice AI Tutoring Technology

October 2023

We’re thrilled to announce that TeachFX has been awarded a grant from the Bill & Melinda Gates Foundation to adapt our voice AI technology for the online tutoring context! Read more

Returnalyze named as one of the Top 30 Innovators in E-Commerce Loss by ECR

October 2023

The businesses included in this list have “demonstrated new and fresh thinking when it comes to day-to-day e-commerce operations across pre-delivery, fulfillment, logistics, and returns.” Read more

Verge Aero Launches New X7 Drone Combinign Cutting-Edge Hardware and Software Advances

October 2023

Verge Aero, the leading drone show technology solution, today unveiled its new Verge Aero X7 drone, bringing technological advancements into Verge Aero’s all-in-one drone show product suite to further democratize entry to the aerial entertainment industry. Read more

boodleAI Announces BoodleGPT, a Predictive AI Assistant for Nonprofits and Businesses

April 2023

Nonprofits and businesses can obtain predictions about people’s behavior using boodleGPT to streamline workflows, improve campaigns, and increase revenue. Read more

Portfolio Partner & Team News

TruLite Health Announces Collaboration with Mayo Clinic to Address Clinical Bias & Improve Health Equity

January 2024

TruLite Health, developer of the only health equity solution to remediate clinical bias, today announced a know-how agreement with Mayo Clinic to address disparities in medical outcomes and costs. Read more

Ostendio Announces New CEO: Joe Breen

January 2024

Breen has 25 years of proven go-to-market leadership experience scaling security companies SecureWorks, Simeio Solutions, Nuspire, and Lumu Technologies to rapid growth and market leadership positions. Read More

Rackware Delivers Accelerated Cloud Migration and Disaster Recovery Through Google Cloud Marketplace

October 2023

RackWare, a leading innovator in hybrid cloud management solutions, today announced that its RackWare Hybrid Cloud Platform (HCP) is now available on Google Cloud Marketplace. Read more

Pliant Appoints Philippe Vincent as CEO

June 2023

Pliant, a leading provider of advanced API-driven orchestration solutions, today announced the appointment of Philippe Vincent as Chief Executive Officer. Read More

ExecOnline Welcomes Jennifer Brannigan as Chief Sales Officer

April 2023

Prior to joining ExecOnline, Brannigan served as Chief Revenue Officer at Pendo, a hyper-growth product analytics and user experience technology start-up. Read More

Earnest Analytics announces hire of new Chief Revenue Officer, Alyssa Lewis

October 2023

Lewis joins Earnest from Visible Alpha where she was VP of Sales, Americas. She previously worked at Pegasystems Inc, Amazon Web Services, Bloomberg LP, and Deutsche Bank. Read More

New OVP Blog Posts

Bringing People Back to Offices - Make a Three-Year Plan

October 2023

Bringing employees back to the office is a trend across the software industry. How can you do it successfully? Read More