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Money Moves is a column where we chart the funding raises of tech companies across the region. Have a tip? Email us at firstname.lastname@example.org.
Arlington, Virginia-based contract markup technology provider BlackBoiler announced Wednesday that it had secured $3.2 million in fresh funding from a group of investors, including DocuSign.
The software company is working to automate contract reviewing processes. BlackBoiler’s patented technology automates the editing of contracts to suggest revisions to corporate documents for negotiation purposes. The company reports that its technology reduces the contract review process by 70%. BlackBoiler plans to use this latest investment to further develop capabilities for its patented tech and expand its team.
“We are focused on bringing on key hires to help BlackBoiler address the demand we are seeing in the market and empowering our clients to have the ability to build bespoke editing models,” said BlackBoiler cofounder and CEO Dan Broderick in a statement. “As we deploy this technology to the legal market, we are excited to partner with leading Contract Lifecycle Management technologies, alternative legal service providers, and other legal tech companies.”
BlackBoiler currently holds six patents in the U.S., with plans to expand its intellectual property protection nationally, in Canada and in Europe.
Gaithersburg, Maryland-based Sensei Biotherapeutics completed a $28.5 million equity financing round co-led by Cambrian Biopharma and H&S Ventures, with participation from new investors Future Ventures, Christian Angermayer’s Apeiron Investment Group, and Presight Ventures.
The biopharmaceutical firm focused on cancer and infectious diseases plans to use the funding to further develop one of its clinical studies and advance its immunotherapies.
“Sensei’s phage platform represents a transformative leap in immuno-oncology, with a cancer vaccine that can induce all the elements of a robust anti-tumor immune response,” said Cambrian Biopharma CEO James Peyer in a press release. “With experienced management and scientific teams, Sensei is well positioned to become a leader in next generation of immune-oncology therapeutics.”
Virginia-based cyber risk rating company NormShield closed a $7.5 million Series A led by Moore Strategic Ventures. The funding will be used to develop the company’s go-to-market capabilities and excel development of its tech platform.
The four-year-old company provides security-as-a-service solutions in the areas of cyber threat intelligence and vulnerability management. NormShield reports that its platform is being used by 145 customers from the global financial, healthcare, retail and tech sectors. The company has raised $11.1 million in venture capital to date.
Sterling, Virginia-based biotech company Aperiomics received a $150,000 investment from Danville, Virginia-based The Launch Place, a venture development organization.
Founded in 2014, Aperiomics uses genomic analysis and machine learning to detect known pathogens from a sample of any nature in just one test. The company’s Xplore-PATHO Test helps healthcare providers prescribe more precise treatments for specific conditions to offer patients better care. Back in March, Aperiomics launched a test that could detect COVID-19.
This new investment came from The Launch Place’s second seed fund, marking the organization’s 12th investment overall.
“Not only does this company provide a service that makes an impact during this current state of global health, but it is also a female-led company,” said The Launch Place President and CEO Eva Doss in a statement.
Aperiomics is led by Crystal Icenhour, who competed at the 2018 Vinetta Project pitch challenge. She pitched in a preliminary and final round to take home the $20,000 grand prize. The company plans to put the fresh funding toward marketing efforts. Aperiomics will join The Launch Place’s network where it can tap more investors and potential partners.-30-
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