Dallas-based AI and predictive analytics startup Pieces Technologies has raised $3.25 million in a debt-only funding round.
The funding is part of a total offering of $15 million, according to a Form D filing with the Securities and Exchange Commission. That means there is still $11.75 million to raise in this round.
“We are excited about the current fundraising,” Pieces Technologies COO Jarred Mayrosh told Dallas Innovates via email. “With the proceeds, we will continue to advance our work in artificial intelligence, specifically our unique ‘clinician in the loop’ machine learning, creating clinical and operational benefits in health systems.”
“We are extremely fortunate to have a great investor base who shares our vision and commitment to providing leading innovative solutions in health care.”
Mayrosh said the company also will use the funding “to expand our connected network of health systems and community-based organizations to address social determinants of health and care transitions.”
He said that will allow Pieces to boost its commercial work with companies such as NTT Data.
The company’s current inside investors are leading this round and have already started funding.
“We are extremely fortunate to have a great investor base who shares our vision and commitment to providing leading innovative solutions in health care,” Mayrosh said. “We are actively speaking with several potential investors to complete this round and have already received a term sheet for the balance.”
Pieces Technologies’ team of physicians, engineers, and researchers has built solutions since 2007 that it said make complex health-care decisions easier. The company grew out of the Parkland Health & Hospital System’s Center for Clinical Innovations, and is led by CEO Ruben Amarasingham, M.D.
Its cloud-based clinical decision support tools allow health-care organizations to utilize algorithms to reduce the length of hospital stays, prevent readmissions, lower medical risks, and avoid unnecessary hospitalizations.
In 2016, Pieces Technologies secured $21.6 million in Series A funding and launched its software in Children’s Health System of Texas.
IN OTHER FUNDING NEWS …
TPG Growth led a $60 million Series C funding round for San Francisco-based Reflektive, a real-time performance management cloud company. TPG Growth is the global middle market and growth equity platform of the Fort Worth-based investment firm TPG. Reflektive said it would use the funding to invest in research and development to grow its cloud-based platform of people management solutions.
MoneyOnMobile Inc., whose U.S. headquarters is in Ross Tower in downtown Dallas, has completed a $5 million Series H fundraise from the S7 Group. MoneyOnMobile is one of India’s largest phone-based payment networks. The company allows Indian customers to use mobile phones to pay for goods and services or to transfer funds from one cell phone to another, and has more than 350,000 retail locations in India.
Dallas-based View Wireless Infrastructure Fund LP has raised $2.5 million in new equity funding, according to a filing. View Wireless filed as a Domestic Limited Partnership in the state of Texas in April 2017. While the total offering was $2.5 million, the offering is still open, according to a Form D filing.
Dallas-based nonprofit jewelry brand Akola Project has received a $250,000 line of credit as part of $1 million in investments in four women-led ventures by the Women’s Capital Collaborative, created in 2016 to support the diverse needs of women-run social ventures. Akola provides training and livelihoods to women in both Dallas and Uganda, and was founded in 2007 by Brittany Merrill Underwood.
RailPros Field Services, which has its RailPros Inspection Services LLC operation in Grapevine, announced it has raised all of a $7.7 million debt offering. RailPros provides field staff for railroad construction projects and inspections.
Austin-based True Wealth Ventures, a women-led venture firm, has raised $19.1 million to invest in women-led startups, The Dallas Morning News reported. More than 80 percent of the funds came from women, the report said. The firm wants to help close the gender gap by investing in promising startups in Texas, the Morning News said.
MERGERS & ACQUISITIONS
Coppell-based mortgage servicing company Mr. Cooper — the rebranded Nationstar Mortgage — is merging with WMIH Corp., the former parent company of Washington Mutual Bank. Nationstar shareholders will get $1.2 billion in cash from Seattle-based WMIH, and $702 million in shares of the combined company, The Dallas Morning News reported. The combined company will trade on the NASDAQ market under the ticker symbol WMIH.
Dallas-based Voice4Net has been acquired by Pennsylvania-based CoreDial LLC, which offer a variety of cloud services, including hosted PBX solutions, VoIP, SIP trunking, and UCaaS. Voice4Net, founded in 1996, offers omnichannel customer engagement technology including Contact Center HD, Screen Pop Pro Server, IVR and IVR survey system, event broadcasting systems, dialing solutions, call back in queue, and professional voice recording.
Palo Alto, California-based VMware has acquired CloudCoreo, a Seattle-based portfolio company of Dallas-based venture capital firm Aristos Ventures. Launch DFW reported that the acquisition comes 20 months after CloudCoreo’s launch. Financial details of acquisition were not disclosed. VMWare acquired CloudCoreo for its cloud security expertise.
Tavisca Solutions, a provider of innovative technology for the travel industry, has been acquired by Affinion Group. Tavisca is headquartered in Pune, India, and has its U.S. office in Plano. It works with loyalty and leisure travel companies, including Affinion Group’s Connexions Loyalty division, according to a release. No financial details of the deal were released.
MVPindex, the Austin-based company with an office in Dallas, has merged with Austin-based Umbel. MVPindex is a comprehensive social media indexed valuation platform for the sports and entertainment industries. It offers real-time analytics on more than 65,000 athletes, entertainers, teams, leagues, and brands ranked social media platforms. Umbel helps sports and entertainment brands collect, unite, and act upon first-party customer data to increase engagement, revenue, and fan loyalty. No financial terms were released.
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