August Update

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Alpha closes investments in Coursera, Doctor on Demand, Lime, Socure.

Over the last two months, Alpha made an initial investment in Coursera and participated in three follow on expansion rounds. 
 

Matt Krna, Marc Michel join Alpha’s 2nd Annual Offsite

Having taken the necessary COVID precautions, we managed a Jersey-Shore-wide power outage from Tropical Storm Isaias to host our 2nd annual offsite. Matt Krna of San Francisco said, “Love when the team makes lemonades out of lemons.” Besides planning Alpha’s next growth phase and its upcoming Fund 3, the team enjoyed the Jersey Shore’s breezes, raced go-carts (the analyst team finished 1-2-3 over the older guys), and re-calibrated our view of the growth venture landscape. Special thanks to Marc Michel (Runway Ventures) and Matt Krna (formerly Princeville Global and Softbank) for joining the team and providing insights and friendship.

Alpha’s Essential Tech Series continues to feature VCs and their top companies

Join on Sep 15th: Manna Tree & Creadev showcase Essential Food Tech

Please join our 5th Essential Tech webinar on Sep 15th, at 12noon EDT, to hear talks focused on Essential Food Tech by Manna Tree’s Ellie Rubenstein, and CREADEV’s Delphine Descamps. In our series, VC Partners each bring a founder whose company is growing in 2020. About 60 LPs, VCs and investors join, network, ask questions, and meet in break out rooms.

Hold the Date: Thursday Oct 15th, 12noon EDT, HL Ventures and Impact America Fund focus on Essential Impact Tech with two top growth companies. (invite coming soon)

Steve, Brian, Dan, Nick, Daniel & team

 
RSVP: Essential Food w Manna Tree & CREADEV

Portfolio News

Click here to RSVP to the Essential Enterprise Webinar

“Start-Ups Braced for the Worst. The Worst Never Came.”
NYTimes
Getaround, a car sharing start-up, started the year by laying off 150 employees and scaling back some operations after it spent too much on a rapid expansion.

Two months later, with the spread of the coronavirus, business got even worse. The company laid off another 100 employees, asked those who remained to volunteer for pay cuts. But in May, something unexpected happened: Business bounced back when people began using the start-up’s cars to get on the road again. Getaround’s revenue in the United States for the year is now 40 percent above where it was a year ago. Last month, it brought back all of its furloughed employees and started hiring again.

 
Click here to RSVP to the Essential Enterprise Webinar

“Doctor On Demand Raises $75M To Grow”
Crunchbase News
Doctor On Demand said it will use the new capital to invest in the growth and expansion of its virtual care model. The company says it saw an increase in utilization in urgent care and behavioral health services during the COVID-19 pandemic.

Hill Ferguson, CEO of Doctor On Demand, said in a written statement that the pandemic unveiled certain benefits of virtual care, such as being able to reach all patient populations and proving quality of care was similar to in-person visits.

 
Click here to RSVP to the Essential Enterprise Webinar

“Ro, a 3-year-old online health provider, just raised a new round that values it at $1.5 billion”
CNBC
The company, which started out by selling hair loss supplements and erectile dysfunction medication to men, has built a range of health apps and says it’s now generating $250 million in annual revenue — without taking insurance. Given the rise of high-deductible plans and the increasing numbers of Americans without insurance, Ro is betting that many more are newly willing to pay out of pocket to access a doctor

 

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