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Pontera Raises $60 Million to Help US Workers Retire Better

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10 months ago

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ICONIQ Growth backs fintech’s efforts to expand access to comprehensive wealth management services for 401(k) participants

NEW YORK, Dec. 7, 2023 /PRNewswire/ — Pontera, the fintech company enabling 401(k) participants to receive comprehensive wealth management services by personal financial advisors, has secured $60 million in a funding round led by ICONIQ Growth. This investment raises Pontera’s total funding to $160 million, reinforcing its commitment to address the widespread neglect of workplace retirement accounts held by 85 million Americans—a critical element of the U.S. retirement crisis.

Pontera welcomed ICONIQ Growth as a new investor in an up round with additional participation from prior investors.

After more than quadrupling revenue since its last fundraise announced in February 2022, Pontera welcomed ICONIQ Growth as a new investor in an up round with additional participation from prior investors Blumberg Capital, Collaborative Fund, Hanaco Ventures, Lightspeed Venture Partners and The Founders Kitchen.

“We are proud to support the Pontera team as they empower advisors to help their clients feel more financially secure and retire with greater wealth,” said Yoonkee Sull, General Partner at ICONIQ Growth. “Pontera is addressing a growing market need with a solution that benefits the entire retirement ecosystem through a proven approach for financial advisors to compliantly and more effectively manage workplace retirement assets.” 

Thousands of financial advisors are now leveraging Pontera’s platform to overcome operational hurdles to securely and compliantly manage 401(k), 403(b) and other retirement plan assets as a critical part of their clients’ wealth.

Jeremy Abfalter, an Arizona resident, describes his challenges before his financial advisor at Ironwood Wealth Management invited him to the Pontera platform: “I would sign up for a 401(k) through my company… I just didn’t feel as comfortable trying to pick [plan] options by myself without having any knowledge or experience in doing it.”

Now receiving professional help by his advisor, facilitated via Pontera, he reports: “Having the peace of mind knowing that there are experts at Ironwood who are managing our 401(k) makes it a lot easier for me and stress free.”

Studies have consistently shown that the majority of 401(k) plan participants desire more comprehensive assistance with retirement planning, and that a professionally-managed portfolio can generate up to 4% additional annual net returns. However, as over one third of workers seek professional help, financial advisors have historically struggled to manage the entirety of clients’ retirement assets.

The operational challenges begin with the workplace retirement account’s location; as plans are selected by employers, it is often the case that a financial advisor has no affiliation with the financial institution holding their client’s 401(k). To manage these outside assets, financial advisors have for years logged into accounts using their client’s credentials—a practice that requires substantial investments in cybersecurity and compliance. Alternatively, advisors have provided rebalancing guidance to clients, assuming the risks of lacking full plan information and implementation oversight.

Pontera alleviates these challenges through its client-permissioned platform, which empowers advisors to analyze, rebalance and monitor 401(k), 403(b) and other held-away accounts across hundreds of financial institutions in a single, unified view. The platform is SOC 2 Type II and ISO 27001 certified and integrates with leading portfolio management software to provide clients with a 360° view of their finances. Clients benefit from enhanced transparency, peace of mind and retirement outcomes. 

“It’s one of those rare moments in time where if you implement a new capability everyone wins, from the client to the advisor,” said Shirl Penney, President and CEO of Dynasty Financial Partners, a leading provider of wealth management and technology platforms to over 300 financial advisors. Penney recently announced that Dynasty is on track to oversee $100 billion in client assets by July 2024.

As the future of social security is uncertain, the U.S. government is working to expand and preserve the 401(k), as indicated by the SECURE 2.0 Act and the proposed Retirement Security Rule. The latter targets $779 billion lost by plan participants during inadequate account rollovers. Earlier this year, Pontera evidenced its solution helps advisors and their clients keep assets in 401(k) plans and minimize suboptimal rollovers.

“This funding is not just an investment in Pontera; it’s an investment in the future of every U.S. worker striving for a secure and fulfilling retirement,” said Yoav Zurel, CEO of Pontera. “We are proud to partner with investors who recognize the nation’s looming retirement crisis and Pontera’s role in helping everyday families.”

Pontera’s collaboration with Dynasty represents a significant achievement in the company’s journey since the last funding round; other notable new relationships include Benjamin Edwards, OneDigital, Savant and Wealthspire. In that time, Pontera has also launched new platform integrations with wealth management platforms Addepar, Envestnet and Morningstar.

To learn more about Pontera, visit pontera.com.

About Pontera

Pontera is a fintech company on a mission to help millions of Americans retire better by enabling financial advisors to analyze, rebalance, and report on workplace retirement account assets, including 401(k)s, 403(b)s and more. The platform is designed to work across the vast majority of retirement plans and seamlessly integrate with existing portfolio management tools to help advisors improve their clients’ financial outcomes. Founded in 2012, Pontera is headquartered in New York City. Learn more at pontera.com.

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SOURCE Pontera

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Eoptolink Releases OSFP 1.6T DR8 and 2FR4 Series Transceivers for AI/ML Clusters and Cloud Datacenter Networks

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8 mins ago

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September 20, 2024

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CHENGDU, China, Sept. 20, 2024 /PRNewswire/ — Eoptolink Technology Inc., Ltd. (SZSE: 300502), a leading innovator and provider of advanced optical transceiver solutions, announces the release of its OSFP 1.6T DR8/DR8-2 and 2xFR4 transceivers enabling the next generation high bandwidth networks for AI/ML clusters and cloud datacenters.

Eoptolink 1.6T OSFP transceivers have 8 electrical host interfacing lanes and 8 optical lanes operating at 212.5Gb/s (106GB with PAM4). Equipped with the industry’s latest DSP, these modules support transmission distances of up to 2km without the need to regenerate the FEC. The 1.6T DR8 and DR8-2 modules comes with either one MPO-16 adapter for point-to-point (P2P) connections or two MPO-12 adapters for 2x800G breakout applications. The 1.6T 2xFR4 modules are designed with a dual duplex LC connector running with 2 pairs of fibers only, which could help users to save fiber resources compared to DR8 and DR8-2 versions.

The 1.6T DR8/DR8-2 and 2FR4 Portfolio consists of: – 

EOLO-13T-5H-XMX    OSFP 1.6T DR8, 1×1.6TbE, 500m, MPO-16
EOLO-13T-5H-XDX    OSFP 1.6T DR8, 2x800GbE, 500m, Dual MPO-12
EOLO-13T-02-XMX    OSFP 1.6T DR8-2, 1×1.6TbE, 2km, MPO-16
EOLO-13T-02-XDX     OSFP 1.6T DR8-2, 2x800GbE, 2km, Dual MPO-12
EOLO-16T-02-XXX     OSFP 1.6T 2FR4, 2x800GbE, 2km, Dual Duplex LC

Eoptolink OSFP 1.6T transceivers feature both EML and SiPh-based solutions, and testing has demonstrated excellent performance. “We are very proud of our optical and RF design teams, says Sean Davies, VP Sales, Eoptolink Technology Inc., Ltd. “Our 1.6T OSFP modules do not need an additional FEC on the optical side and this results in lower latency and power consumption of the modules simplifying the complete system and helping our AI and cloud customers in their work.”

About Eoptolink

Eoptolink Technology Inc., Ltd. (SZSE: 300502), a publicly traded company in China, is a leading innovator and provider of advanced optical transceiver solution for data center, enterprise and telecom networks. Eoptolink is dedicated to research, develop, manufacture and markets a diverse portfolio of high-performance optical transceivers for AI, Cloud Data Center, 4G/5G wireless, Transport & Datacom and FTTX applications all over the world.

Contact Us

China(HQ):   

No.510 Wulian Avenue, Chengdu 610200

USA:   

3191 Laurelview Court, Fremont, CA 94538

Thailand:   

390/21 Moo 2, Khao Khan Song, Sriracha, Chonburi 20110

E-mail:  

sales@eoptolink.com 

 

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SOURCE Eoptolink Technology Inc., Ltd.

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Flat Ads Makes Its Mark at DMEXCO 2024: Showcasing Strength in Programmatic Advertising

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September 20, 2024

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COLOGNE, Germany, Sept. 20, 2024 /PRNewswire/ — In September, Flat Ads makes its mark at DMEXCO 2024, the prestigious European event of digital marketing and technology. The highly successful exhibition boasts 650 exhibitors, 850 speakers, and thousands of participants. At the event, Flat Ads showcased the strength of programmatic advertising platform in ad delivery, traffic optimization, and brand safety.

Flat Ads programmatic advertising platform has an exclusive developer traffic of 700 million and an extensive network spanning over 200 countries and regions worldwide. It cooperates with over 200 leading DSP/SSP partners, including FreeWheel, PubMatic and Criteo, leveraging an efficient and complete bidding system, as well as automatic delivery algorithms, to achieve precise marketing and advertising effectiveness maximization.

With its exclusive platform strategy algorithm, Flat Ads programmatic advertising platform can continuously conduct automatic exploration and matching based on the characteristics of DSP and traffic, optimize and adjust the algorithm model in real-time. This not only ensures the sustainability of DSP budgets, but also maximizes traffic utilization and enhances monetization revenue of advertisements.

Moreover, brand protection is among the top priorities of Flat Ads. In addition to accessing to authority agency Pixalate to test the effectiveness of ads, it has also accessed HUMAN, the global cybersecurity authority to safeguard its clients by preventing bot attacks, digital fraud and abuse, ensuring a stable, reliable, and secure programmatic advertising transaction platform.

By participating in DMEXCO 2024, Flat Ads showcased its outstanding strength and fruitful achievements in the programmatic advertising field, attracting the attention of numerous advertisers and developers for cooperation. Flat Ads boasts not only robust technical capabilities and innovative prowess, but also an active and open attitude towards emerging technologies, embracing and exploring them. It remains committed to providing more professional and efficient global marketing services to advertisers and developers worldwide, helping clients stand out in the fiercely competitive market and achieve business growth.

As a globally leading mobile advertising marketing platform, Flat Ads currently operates offices in Singapore, Indonesia, Hong Kong, and Guangzhou, serving over 1000 clients with global marketing solutions. If you’re interested in Flat Ads’ programmatic advertising services, please visit www.flat-ads.com.

View original content:https://www.prnewswire.co.uk/news-releases/flat-ads-makes-its-mark-at-dmexco-2024-showcasing-strength-in-programmatic-advertising-302253872.html

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Tulufan, Xinjiang: For the first time, a new energy plant and station has achieved “all-green electricity” operation

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1 hour ago

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September 20, 2024

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TULUFAN, China, Sept. 20, 2024 /PRNewswire/ — On September 19, employees of State Grid Tulufan Electric Power Supply Company came to State Power Investment Zhongli Tenghui Qiquanhu Photovoltaic Power Station to provide comprehensive technical support and guidance for new energy enterprises.

Seven wind power and photovoltaic power generation enterprises, including Xinjiang Jize Power Generation Company in Tulufan, have obtained 6.035 million KWH of grid electricity by purchasing 6,035 “green certificates” to achieve “green electricity – green electricity” and achieve green energy use in the whole link of new energy power generation.

The green power certificate, referred to as “green certificate”, is the only certificate that identifies the production and consumption of renewable energy power. Promoting the all-green operation of new energy power generation is an important measure to promote the green consumption of renewable energy.

“Before, we were just ‘producers’ of green electricity. Now the buyers of green certificates have become green electricity consumers, and the production process is fully green.” Qiquan Lake photovoltaic power station inspection officer Forzati Dilishati said.

Since the launch of the green electricity and green certificate market, State Grid Tulufan Electric Power Supply Company has actively promoted green electricity trading, promoted the supply of green electricity and green certificates in multiple scenarios, promoted the rapid promotion and popularization of related services in Tulufan, and helped build a new power system.

In the first eight months of this year, the cumulative volume of green electricity transactions in Xinjiang reached 1.174 billion KWH, 93.83 times that of the whole year of 2022.

 

View original content:https://www.prnewswire.com/apac/news-releases/tulufan-xinjiang-for-the-first-time-a-new-energy-plant-and-station-has-achieved-all-green-electricity-operation-302253902.html

SOURCE State Grid Tulufan Electric Power Supply Company

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