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Brain imaging AI leader icometrix raises $18 million in new funding
Brain imaging AI leader icometrix raises $18 million in new funding
Respond Software Raises $20 Million to Meet Growing Demand for Robotic Decision Automation in Security Operations
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Raises $20 Million to Meet Growing Demand for
Company’s technology will transform care for patients with brain disorders and injuries. icometrix, the global expert in brain imaging Artificial Intelligence solutions, has raised $18 million through a partnership led by Forestay Capital alongside Optum Ventures and existing investor Capricorn Venture Partners.
icometrix’s icobrain software, which is both CE-marked and FDA-cleared, extracts clinically meaningful information from brain MRI and CT scans of patients with neurological disorders, such as Multiple Sclerosis, Alzheimer’s disease and dementia, and traumatic brain injury. The icobrain AI solutions are already used in more than 100 hospitals and imaging center networks worldwide, and in clinical studies by 4 out of the Top 5 pharmaceutical companies.
partner with icometrix’s management and to
“With icobrain, medical images can be read faster, more consistently and in a more personalized fashion by quantifying the volume of brain structures and abnormalities,” said Wim Van Hecke, CEO of icometrix. “One in three people Software, innovators in Robotic Decision Automation (RDA) will suffer from a brain disorder, often due toRespond a chronic disease, leading to an immense burden for software for security operations, announced a $20 million Series B patients, friends, families, caregivers and society. funding round led by ClearSky Security. Brain scans play a central role in patient diagnosis and monitoring, creating a huge need for objective This investment will be used to accelerate go24/7/365 expert security analysts to every team it and patient-specific evaluation of MRI and CT serves – at a significantly lower cost than existing brain scan images with tools like icobrain.” to-market operations and to expand customer success teams across the globe. Jay Leek, in-house methods or managed security service managing director for ClearSky Security and providers. “Forestay is delighted to partner with icometrix’s former CISO of Blackstone, will join Respond management and to help drive forward its growing “The lack of skilled security analysts, coupled with Software’s Board of Directors. success story. This technology transforms the way the exponential growth of security-related data, we diagnose, monitor and treat people with brain “We founded Respond Software to give has enterprises in crisis mode and increasingly disorders and we can see its immense potential teams a product that emulates recognizing that the status quo won’t cut it,” to improve neurological diagnostics, makingcybersecurity a at scale – the judgement of expert security said Jay Leek, Managing Director, ClearSky complex process quicker and more effective–for analysts, effectively giving those operations an Security. “Respond Software’s RDA software for each individual patient. Our own investor, the extra security operations is the missing link in today’s Waypoint Capital group, has a deep heritage in team to help defend their organization,” said Mike Armistead, CEO, Respond Software. automation portfolio, as it performs like a virtual the health care sector and also owns Affidea, “This new funding will enable usintothe deliver onof data to team of expert analysts ‘in a box,’ allowing “We strongly believe power the largest imaging center network in Europe, companies to immediately expand their security the tremendous response our RDA software has help diagnose, monitor and treat neurological which has partnered with icometrix to develop operations cost-efficiently.” received thus far, so more can disorders,” said security Heather teams Roxborough, Partner at the standardization protocols for its large-scale monitor andOptum triage Ventures. security events 24/7/365 at “By putting icometrix’s innovative deployment across Europe. This gives us great Respond Software is now well poised to capitalize speed, scalesolutions and consistency. AI brain imaging in the hands of clinicians confidence in its future value potential,” saidunprecedented on the rapidly-growing incident response market We’re also and thrilled to have Jay Leek aswe part of help our improve radiologists worldwide, can Frederic Wohlwend, Managing Partner of Forestay that is projected to expand to $33.75 billion by team for thethe next phase of thisof journey we look lives of millions people–with brain disorders.” Capital. 2023. The new funding follows a marquee year of forward to reaping the benefits of his passion and significant growth for Respond Software, including expertise.” being named in Gartner’s Cool Vendors in Security 28 Wealth & Finance International - Q2 2019 Operations and Vulnerability Management report, This latest round, including participation from 6X year-over-year customer growth and significant previous investors CRV and Foundation Capital, employee expansion in security research, further validates Respond Software’s innovative engineering and marketing. The Respond Analyst approach to supporting today’s resource-strapped is currently deployed in numerous Fortune 500 security teams. The company’s flagship product, Companies with large Security Operation Centers the Respond Analyst™, deploys quickly and (SOCs) as well as resource-constrained midincreases the capabilities and capacity of existing enterprise companies nationwide. security teams – on average adding 14 full-time,
we can see its immense potential to improve
making a complex process patient.”
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Black Banx Inc.
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UNSTOPPABLE -
How this FinTech Guru grew AUM in less than a decade Family Offices have their roots in the sixth century, when a king’s steward was responsible for managing royal wealth. The modern concept of the family office was developed in the 19th century, when the family of financier and art collector J.P. Morgan founded the House of Morgan and the Rockefellers founded their own family office, which is still in existence today. Although each family office is unique to some extent and varies with the individual needs and objectives of the family it is devoted to it can be characterised as a family-owned organization that manages private wealth and other family affairs. The Gastauer Family Office was founded in 2008 by FinTech entrepreneur Michael Gastauer, after selling his Digital Payment Company for $480 Million to an Asian Banking Group. In 2014 Gastauer decided to invest into UK based Digital Banking StartUp Black Banx that ultimately grew into Europes largest FinTech company. The share package his Family Office is holding in Black Banx today is worth more than €9 Billion. To find out how Michael Gastauer created one of Europe’s top ten Family Offices, we spoke to him in an interview: W&F: Thanks for joining us today. Michael, what can you share with us about your Family Office? Michael Gastauer: Gastauer Family Office is a single-family office driven by the needs and preferences of our Family members. Its purpose is to manage the substantial asset structure through global hedge strategies. Assets are managed via a broad mandate to trade and invest in a variety of global markets and financial instruments. What makes us quite special is our focus to invest in Financial Technology firms at any stage. W&F: Since you got involved with the FinTech Industry, you have served as Chairman and CEO of several firms, but you also have a long history of business experience. Could you tell us more about what gave you the experience to invest in FinTech ventures like Black Banx? Gastauer: I come from a family where, at an early age, I was exposed to entrepreneurial thinking. My
first job was working as a Business Development Manager for a Venture Capital Fund in Munich during the dot com boom. By the age of 24, I started my own business, an Asset Management firm. I had a partner that invested $1.2 million to help me grow the business. When the business was sold to an Investment Fund, he cashed out with $16 million only three years after he invested. What I learned during that time was not only how the venture capital business works, but more importantly what it means to start and grow a business and deal with investors’ expectations. My second venture was a Payment Service Provide (PSP) for online businesses. The company was one of the first in Europe offering card payment acceptance for eCommerce merchants. Ecommerce and other online related industries were growing by a three-digit growth rate annually. As one of the few PSPs, we had a huge market share in Europe and Asia. In 2008 I sold the company for $480 million to an Asian Banking Group. The experience I gained from this was how to grow a business on a global scale based on revenues with zero Venture Capital funding. W&F: Since you become the Chairman and main shareholder of Black Banx Group what would you say was the most challenging part to grow the value of your investment? Black Banx is a different animal in terms of size and speed that the company has been growing with. In early 2015 when BB started its global rollout, it had a unique business model, unparalleled in the banking industry. Today there are a few firms imitating the business model, but Black Banx remains the champion with almost 10 million customers in 180 countries. The real challenges where more to manage the growth internally, having offices in eight countries hiring hundreds of people every quarter was sometimes a logistical and administrative nightmare. The real problems started when Black Banx came on the radar of powerful government institutions treating it with the same level of scrutiny they are treating mayor players in the Financial Industry. This is when you understand that Banks which had decades to built their legal and compliance team,
have a definite advantage to manage these kind of situations over a company that is three years old. In those times you have to step in, get a good team together and ride out the storm, which is basically what we did with Black Banx. W&F: I can only imagine the amount of work it takes to manage something like this. What would you say is the key to your success? Gastauer: I would say three things are most important when building a business. First you have to have a vision. Very often that comes from your own personal experiences where you want to solve a problem or offer a product or solution that does’t exist or makes things better. Once you have your vision clearly formulated it will lead into your strategy how you will achieve this. The how is all about the details on execution and will require your professional skills and ability to network with the right people. So skills and network is the second important element needed. The third most important component that sets great leaders apart is the mind. Your mind is what keeps you going into the right direction, it helps you making the right decisions and attracting the right people. It is your “mental navigation system” that knows the answers to the difficult questions that you deal with when building and leading your business. It helps you to stay positive, motivated and attracts the right feelings you need to be successful. One of my favourite quotes is “It is your mind that creates this world,” which describes exactly how powerful this is. If you want to learn how to be successful, learn how to work with your mind and understand its potential. W&F: And how did you get to the point where you know how to work with your mind? Gastauer: First you have to understand how your mind works and how you are connected. This is not easy for most of us, because the greatest part of our mind is the subconscious, which we normally are not used to actively working with. There are several techniques that can help you to get access to your subconscious. What works best for me is meditation. Once you have access
Michael Gastauer, Founder and Chairman of Gastauer Family Office
to your subconscious, you start to delete worries and fears and replace them with positive thoughts. There is great literature and good teachers or coaches that can help you to learn the process. W&F: How does your knowledge and skills help you to lead your Family Office?
is it helps me have a clear understanding of what we want to achieve. I know the strategy and how to take my investments there, because I’ve done this before and learned from my mistakes. I am operating out of positive thoughts and emotions, which allow me to attract the things and make the decisions to be successful. I have deep faith in what I do.
Gastauer: At Gastauer Family Office, I combine my business experience from the past 20 years with my level of mental awareness. What this does
W&F: What is the one big takeaway you would give to other Family Offices? Gastauer: Understand that without the right mindset, you are your biggest enemy. Each of us have so many little “sabotage programs” running through our minds that would tell us, “it is too difficult,” “it is impossible,” etc... Get rid of those, understand what you really want, do what you enjoy and love, have faith in yourself. Your success is guaranteed.
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