Connect with us

Technology

Cox Enterprises Backs Socium Ventures with a Second $300 Million Fund, Reinforcing Commitment to Fostering Innovation

Published

on

David Yang joins Socium Ventures as Partner

ATLANTA, Oct. 24, 2024 /PRNewswire/ — Socium Ventures is a venture and growth investment firm focused on investing in durable and compounding companies. Today, Cox Enterprises announced the second fund for Socium Ventures, a $300 million investment, bringing the total managed capital to $600 million. Socium Ventures is actively seeking investment opportunities in the $3 million to $25 million range across industries and sectors experiencing technology-led growth, including enterprise and vertical software, advanced computer tools, public sector software, healthcare, fintech, B2B marketplaces and sustainability. The Socium Ventures team looks to support its portfolio companies across every stage of development with strategic and operational support as well as permanent capital over the long term.

“Cox Enterprises has built innovative businesses for 126 years,” said Dallas Clement, president and chief financial officer, Cox Enterprises. “This second round of funding for Socium Ventures strengthens our ability to partner with the next generation of original thinkers to create solutions to big problems and prosperity for the next generation.”

Launched in June 2023, Socium Ventures, backed by Cox Enterprises, is looking to build on the strengths of the Cox platform, including its deep and permanent capital base as well as the strategic and operational expertise of Cox’s $23 billion family of businesses. Socium Ventures’ current portfolio of companies include New York-based Carbyne, a company revolutionizing how citizens engage with emergency services nationwide— and recently added Knowde and Crisp to the portfolio.

“This second fund recognizes what we’ve accomplished since launching Socium Ventures last year,” said Andrew Davis, senior vice president of Strategy and Investments, Cox Enterprises and managing partner of Socium Ventures. “Moving forward, we will continue our investing strategy to help early-stage businesses scale for a bigger impact. This is a formula that has worked well for us, and we are excited about our future prospects.”

In a significant addition to its team, Socium Ventures welcomes David Yang as a partner. He is the first dedicated senior hire for the firm. Yang joins Socium Ventures after spending 15 years investing in growth technology companies across investment stages, including venture, growth and public companies. His past investments have included Chime, Deuna, Digital Ocean, JOKR, Papaya Pay and PinDuoDuo. He started his investing career at Warburg Pincus and TA Associates.

“I’ve spent my career supporting founders and leadership teams who are building foundational companies,” said Yang. “I’m incredibly excited to join Socium Ventures and execute against our mandate of partnering with durable and compounding companies that are leading the charge on innovation and growth.”

For more information about Socium Ventures and its latest investments, please visit sociumventures.com.

About Cox Enterprises
Cox Enterprises is dedicated to empowering people to build a better future for the next generation. Cox is a leader in the broadband, automotive, and media industries, as well as a leading investment platform with strategic positions in emerging technologies driving the future of agriculture, renewable energy, health care, and public sector software. Headquartered in Atlanta, Georgia, Cox is a global company with $23 billion in annual revenues and a proud history spanning more than 125 years. To learn more about Cox and its commitment to its people, planet and communities, visit coxenterprises.com

About Socium Ventures
Socium Ventures, a venture and growth investment fund launched by Cox Enterprises, represents a new era in full life cycle investment strategies. Socium Ventures is dedicated to supporting portfolio companies at every stage of development and building strong partnerships with founders. Seeking investment opportunities for Series A and beyond, Socium Ventures offers a unique proposition, providing companies with access to deep and permanent capital, extensive strategic and operating experience, and support across stages and over the long term. Learn more at SociumVentures.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cox-enterprises-backs-socium-ventures-with-a-second-300-million-fund-reinforcing-commitment-to-fostering-innovation-302286408.html

SOURCE Cox Enterprises

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Waters Corporation to Host Investor Day on March 5, 2025

Published

on

By

MILFORD, Mass., Jan. 10, 2025 /PRNewswire/ — Waters Corporation (NYSE:WAT) announced that it will host an Investor Day on Wednesday, March 5th, 2025, in New York City, starting at 8:30 AM ET.

The event will feature presentations by members of the senior management team, who will discuss business initiative achievements, new strategic priorities, and our vision for future shareholder value creation. A Q&A session will follow.

In-Person Attendance
To request in-person attendance at this event, please click here or visit the Waters Investor Relations website at https://ir.waters.com, under ‘Events’.

Webcast
A live webcast will be available the day of the event. To register for the webcast, please click here or visit the Waters Investor Relations website at https://ir.waters.com, under ‘Events’. A replay of the webcast will be available shortly after the event concludes.

About Waters Corporation
Waters Corporation (NYSE:WAT), a global leader in analytical instruments and software, has pioneered chromatography, mass spectrometry, and thermal analysis innovations serving the life, materials, food, and environmental sciences for more than 65 years. With approximately 7,500 employees worldwide, Waters operates directly in 35 countries, including 15 manufacturing facilities, and with products available in more than 100 countries.

Caspar Tudor, Head of Investor Relations
investor_relations@waters.com

View original content:https://www.prnewswire.com/news-releases/waters-corporation-to-host-investor-day-on-march-5-2025-302348226.html

SOURCE Waters Corporation

Continue Reading

Technology

As Retail Cybercrime Surges, Plank Road Ventures To Present Technology Solutions At NRF 2025 Big Show

Published

on

By

HOBOKEN, N.J., Jan. 10, 2025 /PRNewswire/ — Credit cards and other non-cash payment methods now account for some 80% of purchasing activity, according to some reports. It’s convenient for consumers, but each retail transaction may expose vital shopper information to nation-state and other cybercriminals. Consumers are inconvenienced, while retailers may suffer reputational and financial damage.

To combat the upsurge in digital incursions, Plank Road Ventures — an eMazzanti Technologies company — will present artificial intelligence, cybersecurity best-practice and other retail solutions at the NRF (National Retail Federation) 2025 Retail’s Big Show at Booth 2306, in the Startup Hub of New York City’s Jacob K. Javits Convention Center from January 12 through January 14, 2025.

“The rise in credit card, digital and other payment methods have made retailers a rich target for cyberthieves,” warns eMazzanti Technologies President Carl Mazzanti. “POS systems, for example, can store customer information and purchase history, enabling retailers to capture the information they need to inform targeted marking campaigns and personalized shopping experiences. But POS transactions also pose an attractive target for cybercriminals, and a successful data breach will have far-reaching consequences.”

Plank Road Ventures, a global managed services provider, partners with leading companies like Microsoft, Watchguard, HP, and I3 Communications to help retailers deploy technology that improve and secure their operations and store strategies, while enhancing customer experience and engagement. Retailers can meet with trained professionals from Plank Road Ventures at the NRF 2025 Retail’s Big Show, and learn about leading-edge POS and other solutions.

About eMazzanti Technologies
eMazzanti’s team of trained, certified IT experts deliver rapid response, increased revenue growth, data security, and productivity for organizations of all sizes. The firm offers cloud and mobile solutions, multi-site technology implementations, outsourced network management, 24 x 7 support, digital marketing services, and cyber security assessments and protection services.

About Plank Road Ventures
Our team of experienced retail experts works with clients to understand their specific requirements and recommend the best options. Specializing in store operations and support, the team is available 24x7x 365.

View original content:https://www.prnewswire.com/news-releases/as-retail-cybercrime-surges-plank-road-ventures-to-present-technology-solutions-at-nrf-2025-big-show-302348181.html

SOURCE Plank Road Ventures

Continue Reading

Technology

Kevin Lanouette Named Senior Vice President and General Counsel

Published

on

By

BEDFORD, Mass., Jan. 10, 2025 /PRNewswire/ — iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that Kevin Lanouette has been named Senior Vice President and General Counsel, effective January 17, 2025. Tonya Drake, the Company’s Executive Vice President and General Counsel, will transition to an advisory role ending March 7, 2025.

“I’d like to thank Tonya for her many years of service to iRobot,” said Gary Cohen, iRobot CEO. “Her legacy of tenacity and rigor in protecting the iRobot Company and our brand has been exemplary.”

“Kevin is a seasoned and highly skilled attorney whose experience in advising on complex corporate and securities, commercial, M&A and IP protection matters will be invaluable as we execute our strategic initiatives and work toward a return to profitable growth,” said Cohen.

Formerly, Mr. Lanouette was a Partner at OutsideGC, a Boston-based law firm, where he specialized in providing strategic legal counsel to clients at all stages of development and across a broad range of industries, including technology development, software and services and healthcare. Previously, he served as Assistant General Counsel at Analog Devices, Inc., a leading global semiconductor manufacturer, from 2006 to 2020, where he had responsibility for several critical legal functions, including corporate, SEC and securities matters, IP licensing and technology transfers, M&A and investments, global commercial transactions, and governance and compliance issues.

He is a graduate of the University of Maine and Harvard Law School.

About iRobot Corp.
iRobot is a global consumer robot company that designs and builds thoughtful robots and intelligent home innovations that make life better. iRobot introduced the first Roomba robot vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 50 million robots worldwide. iRobot’s product portfolio features technologies and advanced concepts in cleaning, mapping and navigation. Working from this portfolio, iRobot engineers are building robots and smart home devices to help consumers make their homes easier to maintain and healthier places to live. For more information about iRobot, please visit www.irobot.com

For iRobot Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to iRobot Corporation’s expectations concerning executive transitions and execution of the company’s strategy. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot, see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/kevin-lanouette-named-senior-vice-president-and-general-counsel-302348314.html

SOURCE iRobot Corporation

Continue Reading

Trending