Today’s news is lighter due to the Juneteenth holiday, a federal holiday in the United States commemorating the end of slavery. So, here are the top venture funding stories for June 19, 2024:

• Zilch raises $125M in debt financing ahead of potential IPO
• Entro Security raises $18M in Series A funding to enhance non-human identity lifecycle management.
• Talkiatry secures $130M in Series C funding to advance value-based behavioral health care.
• MeetRecord obtains $2.7M to boost revenue automation for service businesses.
• Marigold Health raises $11M in Series A funding to expand peer support.
• Tandem AI startup secures funding led by Northzone

London-based fintech startup Zilch raises $125M in debt financing ahead of potential IPO

Zilch, a London-based buy-now-pay-later (BNPL) startup, has secured £100 million ($125 million) in securitized debt financing from Deutsche Bank ahead of the highly anticipated public listing. Valued at $2 billion (£1.65 billion) as of last October, Zilch plans to use the fresh capital to develop new products and triple its sales over the next couple of years, moving closer to an initial public offering (IPO).

The fintech startup offers a unique payment solution, allowing customers to purchase items and repay the debt in interest-free monthly installments. The recent debt financing was structured as a securitization, allowing multiple loans to be packaged together.

Founded in 2018, Zilch’s platform allows users to track all their purchases in one place, whether online or in-store, providing a transparent view of their finances and repayment timelines. This approach differentiates Zilch in the crowded BNPL market and positions it for continued growth.

Funding Details:

• Company Name: Zilch
• Investors’ Name:  Deutsche Bank
• Amount Raised: $125M
• Total Raised: Not disclosed
• Funding Stage: Debt Financing
• Funding Date: June 19, 2024

Entro Security Announces $18M Series A Round to Enhance Non-Human Identity Lifecycle Management

Entro Security, a pioneer in Non-Human Identity (NHI) security, has secured $18M in a Series A funding round. This investment, led by Dell Technologies Capital, will help scale their platform designed to manage and secure NHIs like API keys and tokens, crucial for cloud and SaaS environments.

Company Description: Entro Security, founded in 2023 by Itzik Alvas and Adam Geller, provides comprehensive NHI lifecycle and secrets management solutions to ensure secure machine-to-machine interactions.

Funding Details:

• Company Name: Entro Security
• Investors Name: Dell Technologies Capital, Hyperwise Ventures, StageOne Ventures, Rakesh Loonkar, Mickey Boodaei
• Amount Raised: $18M
• Total Raised: $24M
• Funding Stage: Series A
• Funding Date: June 18, 2024

Talkiatry Secures $130M Series C Funding to Mainstream Value-Based Behavioral Health Care

Talkiatry, a leading behavioral health provider, has raised $130M in Series C funding. The round was led by Left Lane Capital with participation from ReGen Healthcare, Y Combinator, and General Catalyst. This funding aims to expand their value-based care model across the U.S.

Founded in 2019 by by a patient and a triple-board-certified psychiatrist Robert Krayn and Dr. Georgia Gaveras, Talkiatry integrates psychiatric care with technology to make mental health services more accessible and effective. Talkiatry is a nationwide mental health practice specializing in in-network psychiatry and therapy.

Talkiatry’s mission is to address the barriers faced by both patients and providers in accessing and delivering top-tier mental healthcare. Each year, 60% of adults in the U.S. with diagnosable mental illnesses go untreated due to inaccessible care, compounded by the fact that 45% of clinicians are out of network with insurers, largely due to low reimbursement rates and excessive paperwork burdens.

Funding Details:

• Company Name: Talkiatry
• Investors Name: Left Lane Capital, ReGen Healthcare, Y Combinator, General Catalyst
• Amount Raised: $130M
• Total Raised: Not disclosed
• Funding Stage: Series C
• Funding Date: June 18, 2024

MeetRecord Raises $2.7 Million to Enhance Revenue Automation for Service Businesses

MeetRecord, a platform that automates revenue processes for service businesses, has raised $2.7M in seed funding. This funding will enhance their AI-driven tools for capturing and analyzing meeting data to streamline workflows and boost productivity.

Founded in 2020 by Amit Mishra, MeetRecord provides innovative solutions to automate and improve the efficiency of revenue processes for service-oriented businesses. MeetRecord’s platform leverages AI to analyze conversation data from various channels, including emails and calls. This enables the delivery of customized coaching programs and the implementation of automated call-scoring systems. These solutions have been shown to significantly save time and enhance efficiency, making MeetRecord an essential tool for service businesses looking to optimize their revenue processes.

Funding Details:

• Company Name: MeetRecord
• Investors’ Name: SWC Global
• Amount Raised: $2.7M
• Total Raised: Not disclosed
• Funding Stage: Seed
• Funding Date: June 18, 2024

Marigold Health Secures $11M in Series A Funding to Expand Peer Support

Marigold Health has secured $11M in Series A funding to expand its peer support platform for mental health care. Investors include Rock Health, Innospark Ventures, and others. This funding will be used to scale their services and reach more individuals in need.

Founded in 2017 by Ravi Shah and Babak Movassaghi, Marigold Health combines peer support with clinical care to provide comprehensive mental health services through its technology-driven platform. Marigold Health empowers individuals in their health and recovery journeys. They develop technology that fosters human connections and provides training for individuals in recovery to support others.

Since its inception seven years ago, Marigold has impacted thousands of members and substantiated innovative peer-to-peer interventions through multiple studies funded by federal agencies. Their collaborative network includes primary care clinics, substance use treatment providers, hospital systems, and health insurance plans, reflecting a commitment to diverse partnerships in healthcare.

Funding Details:

• Company Name: Marigold Health
• Investors Name: Rock Health, Innospark Ventures, Commonwealth Care Alliance, Wavemaker360, Stand Together Ventures Lab, Epsilon Health Investors, Koa Labs, VNS Health Plan, KdT Ventures
• Amount Raised: $11M
• Total Raised: Not disclosed
• Funding Stage: Series A
• Funding Date: June 18, 2024

AI Startup Tandem Health Secures Funding Round Led by Northzone

Tandem Health, an AI startup enhancing team collaboration through automation, has closed a funding round led by Northzone. This investment will help Tandem scale its platform and improve productivity tools for modern workplaces.

Founded in 2020 by Coen Janssen and Joris Van Duffelen, Tandem uses AI to automate routine tasks and streamline workflows, enhancing team collaboration and productivity. Tandem provides a clinician copilot designed to free up clinicians from administrative duties, allowing them to concentrate on patient care. Their ambient scribe listens during patient consultations, transcribing them and generating draft medical notes that seamlessly integrate into medical record systems. Tandem ensures compliance with GDPR and local patient data laws, prioritizing privacy and security throughout its copilot’s functionalities.

Funding Details:

• Company Name: Tandem
• Investors Name: Northzone
• Amount Raised: $9.5M
• Total Raised: Not disclosed
• Funding Stage: Seed
• Funding Date: June 18, 2024

Top Venture Funding News Summary