Alabama Futures Fund News

Alabama Futures Fund Invests in IQID Technology, Inc.

Alabama Futures Fund (“AFF” or the “Fund”) recently placed an investment in IQID Technologies, Inc. (“IQID” or “Company”). Based in New Orleans, Louisiana, IQID’s software helps higher education admissions and enrollment offices create seamless and consistent recruitment experiences by using artificial intelligence (“AI”) to gather insights which vastly improve communication effectiveness with prospective students.

In connection with the investment from AFF, IQID and its team, including CEO Marie Bigham, will relocate the Company’s headquarters to Birmingham, Alabama.

Colleges and universities are experiencing unprecedented headwinds in admissions and enrollment management. Most notably, a June 2023 ruling from the Supreme Court of the United States (“SCOTUS”) banned race-based admission practices. This landmark ruling ended long-standing admissions departmental strategies which were used to achieve certain admission metrics. College admissions officers are now tasked with finding tools that improve the efficiency and efficacy of their admissions processes.

IQID addresses this problem by connecting with an admission office’s applicant tracking software/CRM and focusing on communication patterns among staff and prospective students throughout the recruitment cycle. IQID was built on peer reviewed research which found that slow response times to inquiries from some cohorts of prospective students led to frustration among those students who then decided not to apply. The result is a smaller, less diverse, pool of applicants.

IQID’s technology utilizes AI-powered “Communication Audits” to ensure consistent communications with all prospective students. The goal is to guarantee the deepest and most well-rounded applicant pool possible. The Company’s software analyzes communications from admission officers and assesses differences in reply time and the author’s sentiment and tone, allowing enrollment leaders to identify disparities and take corrective action to foster a more robust applicant pool.

According to Ms. Bigham, the team is excited to come to Birmingham, “IQID is thrilled to receive an investment from the Alabama Futures Fund. We look forward to becoming active contributors to Birmingham’s startup ecosystem and we look forward to working with and learning from the talented leaders and partners the region has to offer.”

This represents the twentieth investment from AFF since the Fund launched in Q3 of 2018. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager for AFF and advised AFF on the IQID investment.

Redhawk Partner Mickey Millsap shared his excitement about IQID, “Not only does IQID present an excellent investment for our region and Fund, IQID also has the potential to have a positive impact on our society by helping to create a more consistent admissions process for all students. We continue to be so impressed by the passion and commitment of the IQID team and are confident they will become leaders in our growing ecosystem.”

Alabama Futures Fund Invests in CModel Data, Inc.

Alabama Futures Fund (“AFF” or the “Fund”) recently placed an investment in CModel Data, Inc. (“CModel” or“Company”). Formerly, based in San Francisco, California, CModel is developing a data modeling and business intelligence tool that utilizes artificial intelligence (“AI”) to apply native, curated data and client-generated data to perform business strategy simulations. The CModel platform allows business managers to determine the actions required to achieve specific business outcomes.

In connection with the investment from AFF, CModel and its CEO, Teasha Cable, will relocate the Company’s headquarters to Birmingham, Alabama.

Businesses have been investing huge sums of money and resources in collecting, curating, analyzing and storing data. Data is at the center of the Business Intelligence market which, according to Future Market Insights Global and Consulting, is expected to be a $56 billion-dollar annual market by 2033 with a 7.1% CAGR rate.

CModel has developed a cloud-based software platform named “CORA”. CORA is, effectively, a personification of the Company’s software platform capabilities and functions that utilizes historical client-generated data, generative AI and input from human experts, including curated data from a collection of best practices provided by industry experts in business management. Users interact with CORA through a typed prompt interface. Once a prompt is entered, CORA asks a series of questions of the user that start as generalized, high-level questions with multiple-choice answers and then drill down into more granular inquiries. Based on the answers provided by the user, CORA will then run simulations to illustrate what business conditions need to be met to achieve the desired outcomes.

According to Ms. Cable, relocating to Birmingham represents a compelling and unique opportunity for CModel, “Relocating our company to Alabama marks the beginning of an exciting new chapter. With our recent investment from AFF and the support of Redhawk Advisory as a trusted partner, we are poised to unlock unprecedented growth and innovation. Birmingham’s vibrant startup environment and Alabama’s strategic location are the perfect ingredients for our company’s success. We look forward to creating a brighter future, both for our business and the local community.”

This represents the nineteenth investment from AFF since the Fund launched in Q3 of 2018. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the CModel investment.  

Redhawk Partner Matt Hottle shared his enthusiasm about CModel, “CModel represents a startup that will truly move the needle for its customers. Augmented Intelligence platforms like CORA are, usually, financially unattainable for mid-market businesses. Combining the latest AI and machine learning technology with modeling simulations that will help businesses make better decisions, faster, is a game-changer.”

Alabama Futures Fund Invests in Sequense Corporation

Birmingham, Alabama, August 29th, 2023 – Alabama Futures Fund (“AFF” or the “Fund”) recently placed an investment in Sequense Corporation (“Sequense” or “Company”). Based in Austin, Texas, Sequense is a workflow automation software platform which was created to supercharge travel agency business operations for independent and enterprise scale travel advisors. Sequense’s goal is to streamline travel business processes to save time, increase profitability and elevate the reputation of its travel advisor customers.

In connection with the investment from AFF, Sequense and its CEO, Kimber Falkinburg, will relocate the Company’s headquarters to Birmingham, Alabama.

According to global and U.S.-specific industry reports from IBISWorld, there are approximately 84,000 travel advisor enterprises in the U.S. and 164,000 globally. Among those enterprises, there are approximately 402,000 travel advisors in the U.S. and 1.8 million globally. The global travel advisor sector is expected to reach aggregate 2023 revenues of approximately $474.7 billion, with reported net profits of approximately $32.3 billion and a projected compound annual growth rate of approximately 2.2% between 2023-2028.

Sequense’s industry-specific automation for travel advisors allows users to elevate their business and capture more of the growing travel market. By entering a few key data points, the Company’s software organizes hundreds of tasks by stage of workflow and work type. The Sequense platform provides visibility for each advisor on outstanding tasks to be completed utilizing an easy-to-learn project management tool. Users experience increased capacity and efficiency, reduce costly errors and omissions and can onboard and upskill new travel advisors quickly.

According to Ms. Falkinburg, relocating to Birmingham was an easy decision after spending some time in the ecosystem, “We’ve discovered more than a location in Birmingham – we’re tapping into a wellspring of potential. We’re becoming immersed in a community fostering local talent and innovation, an ideal environment for our growth. At Sequense, we’re not just building a business but committed to uplifting both the Company and the entire Birmingham community.”

This represents the eighteenth investment from AFF since the Fund launched in Q3 of 2018. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the Sequense investment.

Redhawk Partner Mickey Millsap shared his excitement about Sequense and the Company’s relocation to Alabama, “We are excited about our investment in Sequense and can’t wait for Kimber to join Birmingham’s growing startup ecosystem. Not only is th travel advisory space a massive market, but it is also a market that has historically not generated significant investment from the venture capital community- meaning the Company has an opportunity to grab significant market share without facing the same level of competition as other sectors.”

Alabama Futures Fund Invests in Allison Fintech Co, Inc.

Alabama Futures Fund (“AFF” or the “Fund”) recently placed an investment in Allison Fintech Co, Inc. (“Allison”). Based in Tampa, Florida, Allison is a Banking-as-a-Service (“BaaS”) platform that enables banks to incorporate fintech products into their traditional payment remittance and banking service offerings. Allison’s BaaS offering utilizes software that connects non-bank financial services customers with participating banking partners and incorporates compliance tools, low-code workflow creation tools, and embedded finance functionality.

In connection with the investment from AFF, Allison will relocate its headquarters to Birmingham, Alabama, while maintaining an office in Tampa, Florida, and establishing a presence in the tech-savvy city of Austin, Texas. These locations are the foundation of Allison’s nationwide growth strategy, driven by its mission to revolutionize banking operations with its groundbreaking software.

Allison’s proprietary software assists community banks and credit unions in increasing deposits while simultaneously cutting administrative costs. Leveraging sophisticated automation and compliance tools, Allison enables these financial institutions to streamline their operations, heighten customer service levels, and maintain a competitive edge in the fast-evolving banking sector.

AFF served as the lead investor for Allison’s current fundraising round following Allison’s graduation from the JP Morgan Techstars accelerator program in Miami, Florida.

“We are poised to deepen our foothold in the U.S. with the opening of our new headquarters in Birmingham, a city swiftly gaining momentum for its vibrant tech scene and welcoming business climate,” said Brian Alvarez-Bailey, CEO of Allison. “Our expansion reflects not only our company’s robust growth but also our unwavering commitment to our clients. We’re extremely appreciative of the support from Alabama Futures Fund, Techstars, and The Everywhere Fund, as these investments validate our vision and will catalyze our continuous innovation in the fintech landscape.”

The choice of Birmingham for Allison’s new headquarters highlights the city’s growing stature as a technology and innovation hub. Allison’s presence will likely stimulate the local economy, create employment opportunities, and foster innovation in the BaaS sector.

This represents the seventeenth investment from AFF since the Fund launched in Q3 of 2018. AFF served as the lead investor on the round with participation from other US-based investors. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the Allison investment.  

Matt Hottle, Partner at Redhawk said, “The commercial banking landscape has changed dramatically over the last five years with the emergence of decentralized financing, advanced payment processing and near-frictionless account transactions for both consumers and businesses. Regulatory-compliant technology that fosters increased access, speed and efficiency has become a requirement for banks looking to expand their markets.”

Alabama Futures Fund Invests in Kaya Care, Inc.

Birmingham, Alabama, August 16, 2022 – Alabama Futures Fund (“AFF” or the “Fund”) recently placed an investment in Kaya Care, Inc. (“Kaya”). Currently based in San Francisco, CA, Kaya connects employees together into clinically-led groups based on shared life experiences to help build inclusive and supportive mental health workplaces.

Kaya partners with employers who want to provide cohort-based mental health solutions to their underlying employees. Research shows that group or cohort-based solutions can offer benefits that individual therapy cannot. Groups focus on themes like relationships, moods, diversity and inclusion, parenting, current political and social issues, wellness and meditation, workplace skills, trauma and healing, and emotional intelligence. Each group session is performed virtually and facilitated by a licensed clinician. Unlike other self-guided solutions or private health care offerings, all cohorts have a dedicated and licensed mental health professional assigned to them.

The National Alliance on Mental Illness published a report citing access to mental health professionals as a continuing problem with 55% of people reporting they could not find a therapist or mental health professional accepting new patients.[1] Further, WTW’s (formerly Willis Towers Watson) 2021 Wellbeing Diagnostic Survey, conducted in October 2021, found that approximately 86% percent of responding employers identified mental health, stress and burnout as priorities for their respective organizations, but approximately only 26 percent had adopted a well-being strategy

This represents the sixteenth investment from AFF since the Fund launched in Q4 of 2018. As with previous AFF investments in companies located outside the State of Alabama, Kaya will move its headquarters to Alabama. AFF served as the lead investor on the round with participation from other US-based investors. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the Kaya Care investment.

Corey Anand, the Founder and CEO of Kaya Care, shared his excitement about the Birmingham startup ecosystem, “We are very excited to be a part of the Birmingham startup community. Partnering with Alabama Futures Fund is a fantastic opportunity and allows us to grow and scale our business in the mental health space. We appreciate all the support we have received from Birmingham thus far, and we look forward to building a future here.”

Matt Hottle, Partner at Redhawk said, “We’ve seen the proliferation of mental wellness solutions over the last five years but those have been, almost exclusively, self-directed approaches where users are asked to interact with an app or an AI-powered interface. Kaya stood out because of its focus on delivering mental wellness programming to people through their employers and its exclusive use of licensed mental health clinicians. The lack of access to professional therapists will continue to be a challenge and Kaya represents an opportunity to bridge that gap.”

Alabama Futures Fund Invests in Stroma Vision, Inc.

Birmingham, Alabama, July 20^th, 2022 – Alabama Futures Fund (“AFF” or the “Fund”) recently placed an investment in Stroma Vision, Inc. (“Stroma Vision”or “Stroma”). Based in Istanbul, Turkey, Stroma has developed a software platform that uses on-location cameras and access control equipment to monitor conditions in production, manufacturing or service environments to alert and, ultimately, predict potential safety or quality control issues.

This represents the fifteenth investment from AFF since the Fund launched in Q4 of 2018. As with previous AFF investments in companies located outside the State of Alabama, Stroma Vision will move its headquarters to Alabama. AFF served as the lead investor on the round with participation from other US-based and international investors. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the Stroma Vision investment.   

According to the Lloyd’s Register Foundation’s 2020 Safetytech Report, “2.8 million people die each year worldwide from safety accidents in the workplace or exposure to hazardous materials or situations, with significantly greater numbers injured.” Additionally, work-related accidents are estimated to cost approximately 3.9% of annual global GDP.

Using plug-and-play edge devices to analyze advanced physiological data such as fatigue, distraction, ergonomics of personnel or PPE non-adherence in real-time in any work environment, Stroma can provide insight into the current safety environment of virtually any operation.  Stroma can also perform quality assurance monitoring using the same computer vision technology. Stroma’s system integrates with pre-installed security cameras and other devices, receives those signals into the Stroma software and creates alerts for safety managers or departments when any of that data shows conditions that are unsafe or non-compliant. Stroma can even use mobile-phone video to perform monitoring services like PPE compliance for companies with extensive field operations.

The Stroma platform aggregates all of the data collected from monitoring devices and creates reports, raw data output and generates visualizations to track key safety metrics. Using the data gathered, the Stroma software deploys artificial intelligence and machine learning to suggest workflows that can be used to develop or refine safety procedures and process improvements based on actual collected data and behaviors.

Anil Üzengi, Co-founder and CEO of Stroma Vision expressed the strategic advantage of locating Stroma’s headquarters in Alabama, “By relocating to one of the nation’s most productive industrial states, we will be able to improve our value creation capabilities in the field with our award-winning industrial safety technology. We’re excited to explore the Alabama manufacturing scene and utilize the vast industrial complex to grow our business exponentially.”

Matt Hottle, Partner at Redhawk said, “The AFF investment thesis revolves around funding Alabama-based, high-growth technology startups or recruiting high-growth technology startups to Alabama. Stroma represents a truly strategic investment that leverages Alabama’s advanced manufacturing industries and skilled workforce with Stroma’s cutting-edge technology that will not only prevent injuries but will also create a significant economic benefit to its customers. It’s almost as if Stroma was built for Alabama.”

Birmingham, Alabama, March XX, 2022 – Alabama Futures Fund (“AFF” or the “Fund”) recently placed an investment in The Office Exchange, Inc. (“Office Exchange”or “OE”).  Office Exchange has developed a marketplace platform connecting property owners, leasing brokers and property managers with potential leaseholders in order to provide short-term leases for commercial properties. As an increasing portion of the commercial office market shifts away from large company-wide spaces to smaller, more flexible and more distributed geographies, Office Exchange is enabling the monetization of empty or under-utilized office space by connecting those empty spaces with a new generation of workplaces that need the flexibility of short-term rental agreements.

This represents the fourteenth investment from AFF since the Fund launched in Q4 of 2018. As with previous AFF investments in companies located outside the State of Alabama, Office Exchange will move its headquarters to Alabama from Denver, Colorado. AFF served as the lead investor on the round with participation from other US-based investors. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the Office Exchange investment.   

According to commercial developer and management company CBRE, 86% of companies plan to incorporate flex space into their post-pandemic real estate strategies. Similarly, while Jones Lang Lasalle predicts 30% of all office space will be consumed flexibly by 2030.^[1] Additionally, there are opportunities to convert or reinvent usage scenarios for empty retail and non-office spaces. From flexible event venues to locations that can host large single day meetings, landlords continue to try to find opportunities to generate income for empty and under-utilized spaces.

Through the OE platform, potential “Guests” can search by category, selecting properties based on intended use, geographic location and lease length options, as well as spaces that are furnished or unfurnished. After going through a verification process, “Hosts” can list any available space and adjust availability, pricing and terms based on market conditions in real time. Listings are free to the “Host” and Office Exchange takes a small percentage of the rent and fees charged, allowing Hosts on the OE platform to fill vacant spaces quickly and affordably.

“We are excited about our partnership with AFF and to be moving our headquarters to Birmingham,” said Devin Davie, CEO and Co-Founder of The Office Exchange. “With the combination of the AFF partnership, a growing tech ecosystem in Alabama and phenomenal opportunities to disrupt the commercial real-estate market, we expect this move to be catalytic to our growth.”

Matt Hottle, Partner at Redhawk said, “During the Covid pandemic, we watched workforces go remote and many large lease-holding organizations realize carrying office space for 100% of their employees was an outmoded business model. Companies simply don’t need to have everyone in the office every day, but they do need the flexibility to support a hybrid workforce. The OE platform is the first end-to-end solution for both ‘“Guests” and “Hosts” where the entire process, from finding the space to rent through signing a lease and scheduling rental payments, can be managed through a single platform. The market timing for Office Exchange could not be better.”

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[1] https://www.crexi.com/insights/the-future-of-coworking-space-and-flex-offices

Birmingham, Alabama, October 5, 2021 – Alabama Futures Fund (“AFF”) recently placed an investment in Amtekh, Inc. DBA MomentMD (“MomentMD” or the “Company”). In conjunction with the AFF investment, Oviedo, FL-based MomentMD is relocating its headquarters to Birmingham, AL. The Company has developed an end-to-end, decentralized telemedicine platform designed to optimize personal healthcare, with an initial emphasis on serving uninsured, high-deductible health plan patients and higher education student patient populations.
This represents the thirteenth investment from AFF since AFF launched in Q4 of 2018. As with previous investments in companies located outside the state of Alabama, MomentMD will move its headquarters to Alabama. AFF served as the lead investor on the round with participation from other US-based investors. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the MomentMD investment.
Most remote healthcare providers focus on the employer-sponsored healthcare market or provide services that focus primarily on acute medical issues typically addressable by an urgent care provider. The average telemedicine subscriber or healthcare plan participant typically only has access to an 800 number or weblink which, in turn, gives them access to the physician or nurse practitioner “on call” at a particular time.

Patients utilizing the MomentMD platform can receive access to primary care, acute care, mental health services and even dental health care. The company does not require patients on its platform to be insured and access to the platform can be purchased by either paying a one-time transactional fee or by paying a monthly subscription. Unlike many traditional telemedicine offerings, the MomentMD platform includes access to participating healthcare specialists all over the US, which allows patients to find healthcare specialists with the relevant expertise to address a particular patient’s healthcare needs.

Each patient’s interaction through the MomentMD platform is appointment-based, which allows participating healthcare practitioners to schedule visits in advance and provides patients with an experience that feels more like a traditional doctor visit. Additionally, the Company provides its participating healthcare practitioners access to HIPAA-compliant cloud-based medical records for platform patient users, which preserves continuity of care and supports better outcomes for patients. Participating healthcare practitioners can also order labs or issue prescriptions online through the MomentMD platform.

According to MomentMD’s Co-Founder and CEO, Abanob Farag, “As founders, we could not be more grateful to continue our journey with AFF as we deliver on our mission to be the decentralized digital health platform of the world. Birmingham offers a strong start-up ecosystem to grow MomentMD and the AFF team is a consistent source of guidance and expertise. They’re a partner you want on your side.”

Matt Hottle, Partner at Redhawk said, “Most telemedicine solutions focus on filling minor service gaps for large health care systems or employer-sponsored health insurance plans. MomentMD is aiming to provide access to high-quality, personalized care to anyone, regardless of their circumstances. Patients can find specialists through the MomentMD platform who become long-term partners in their health, not just transactional practitioners who are traditionally limited to addressing minor or acute illness. MomentMD’s approach represents a major advancement in the relevance of telemedicine.”

Alabama Futures Fund & Redhawk Advisory Invest in datacy, Inc.
Birmingham, Alabama, May 26, 2021 – Alabama Futures Fund (“AFF”) recently placed an investment in datacy, Inc., (“datacy”). Based in London, England and Dayton, TN and relocating its US headquarters to Birmingham, AL, datacy has developed a platform where businesses can buy online and mobile device application (“app”) activity and insights data collected directly from participating consumers.

datacy’s vision is to change the paradigm in data collection and usage by ensuring consumers’ privacy, control and
visibility into their personal data through a simple, user-friendly platform. Enterprise data buyers subscribing to the datacy platform will receive ethically sourced and high-quality data sets while participating consumers will be paid for data they would otherwise have been giving away for free.

This represents the tenth investment from AFF since the AFF was launched in Q4 of 2018. Like previous investments in companies located outside the State of Alabama, datacy will move its headquarters to Birmingham and Founder/CTO, Kaleb Wilson, will move from Dayton to Birmingham. AFF served as the lead investor on the round with participation from US and international investors. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the datacy investment.

Paroma Indilo (Founder and CEO) and Kaleb Wilson (Founder and CTO) bring a unique blend of talent and experience.
Indilo is a graduate of Warwick University Business School with an undergraduate degree in law and business. She is also a graduate of the London School of Economics with a master’s degree in law and finance. She supervised and regulated one of the largest investment banks in Europe while working at England’s Financial Services Authority. She then joined a top 20 international law firm where she practiced corporate, data protection and privacy law.

Wilson has been coding since the age of 10 and has a deep grasp of data structures, operating algorithms and extensive experience building complex, robust and scalable systems. Kaleb is self-taught and built the datacy platform, including its resilient and scalable backend. The platform’s backend includes datacy’s proprietary microservices architecture and private blockchain.

datacy is creating the first data marketplace that allows consumers to sell their data to third parties and receive cash payments for access to their user data. In addition to controlling what applications or websites collect a participating consumer’s information, datacy anonymizes users’ data to exclude names, email addresses and personal identifiers like social security and credit card numbers.

Because this data is willingly provided by participating consumers, the data is far more valuable because of the sheer volume, fidelity and detail of the shared data, which then helps marketers form a more accurate picture of their target market demographics.

According to Ms. Indilo, “We’re excited to work with AFF to give users more power and financial ownership over their data, and we can’t wait to show the world the incredible platform we’re building. We see a lot of opportunities to grow datacy in Birmingham and are excited to build great relationships throughout the city and its start-up ecosystem.”

Matt Hottle, Partner at Redhawk said, “The brokerage of consumer data is a massive market and the primary suppliers of that data, consumers, have never been paid. datacy allows companies to buy incredibly high-quality data from willing participants. In turn, those consumers will be paid for sharing that data. This is going to fundamentally change how people view, protect and share their digital footprint.”

Birmingham, Alabama, April 28, 2021 – Alabama Futures Fund (“AFF”) recently placed an investment in Pretty Marsh Golf, LLC, dba “PINZ”. Based in Mobile, Alabama, PINZ is a next generation global platform for golf. PINZ connects the world’s golfers – amateurs and pros – through competition, community and comparison. 

The investment in PINZ represents the twelfth investment made by AFF since AFF was launched in Q4 of 2018.Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the PINZ investment.  

PINZ is creating the first competitive social feed and interactive platform for golfers. PINZ will allow golfers to share their individual performance and compete virtually against other golfers. PINZ users will not be limited to interacting only among their friends, but rather, users can compare their personal scores to the scores of other golfers on a particular course, other golfers across the PINZ platform and even PGA Tour professionals based on the user’s stroke play and PINZ Score.

Growth in the game of golf has been strong over the past five years, with the Covid19 pandemic bringing in even more new players.

The total number of amateur golf rounds played in 2020 increased by double digits over the total number of amateur golf rounds played in 2019. Recently released data from the National Golf Foundation shows that this growth in the number of rounds played continued into 2021 with January 2021 up 21% over the previous year.  However, unlike other popular individual sports like running and cycling, golf has not yet embraced a platform to make the game more social on a digital level.

PINZ was founded by CEO Mike Stashak. Mike has 20 years of experience building brands and companies. Most recently, Mike led the growth of Wahoo Fitness from inception to over 200 employees. Prior to his role with Wahoo, Mike worked in a strategy role for Equifax’s consumer business. Mike is also a former McKinsey and Company consultant where his practice focused on consumer brands.                                                                 

Mike is joined on the founding team by Kyle Wiley who focuses on PINZ branding and application interface. Kyle has 15 years of experience building brands and technology products. Kyle helped create Circle, a consumer technology offering designed to protect children online, which was eventually licensed by Disney. Kyle has actively worked with brands including the NFL, Adidas, Wahoo Fitness and Bleacher Report.

“The Alabama Futures Fund is a fantastic resource for any early-stage company or entrepreneur in Alabama, and I am grateful to be part of the founder group. Early-stage funding is lacking in our region, and AFF plays an important role in helping entrepreneurs overcome this barrier to starting a company,” said Stashak. “We believe PINZ is going to transform the way golfers compete and engage with the sport,” said Mickey Millsap, General Partner at Redhawk. “Mike brings a tremendous amount of experience in the space and has demonstrated an ability to assemble key strategic partners throughout the golfing community that are going to make this platform a must-have for golfers all over the world.”

Alabama Futures Fund Invests in Con.doit.

Birmingham, Alabama, April 20, 2021 – Alabama Futures Fund, LP (“AFF”) recently placed an investment in Arges, Inc. dba Con.doit (“Con.doit”). Con.doit is a Birmingham based company that recently graduated from the inaugural Techstars Alabama Energy Tech Accelerator cohort. Con.doit has created a unique software application to map, monitor performance and predict potential failures within commercial building electrical systems.

The investment in Con.doit represents the eleventh investment made by AFF since AFF was launched in Q4 of 2018. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the Con.doit investment.

Con.doit’s software components create a new comprehensive electrical system platform Con.doit calls an Electrical System Record (“ESR”). The ESR consolidates all data around electrical equipment records, system efficiency, safety and reliability. Through the Con.doit ESR information dashboard, all of this information can be accessed digitally.

Con.doit’s ESR is comprised of a Collection Module, IOT (Internet of Things) Module, a Failure Prediction System, an Efficiency Modeling Module, and a System Analysis and Dashboard. While all of these components are designed to work together, Con.doit’s offering can be broken down into two main offerings, electrical system mapping and monitoring.

Condoit was built for electrical engineering firms, commercial property owners and commercial property managers. Additionally, Con.doit works with third party design, insurance and maintenance plug-ins to enhance the depth of information and integration of the ESR.

Con.doit was founded by CEO Ian Hoppe and CTO Jim Crapia. Ian is a former commercial and industrial electrical contractor and engineering designer with over 11-years of experience in the field and a lifetime of knowledge of electrical system configuration, having grown up surrounded by electricians and engineers. Jim has 29-years of experience as a software engineer/architect. Jim has participated in and/or led software projects for AFRES, Raytheon E&C, Toyota Motor Sales, Ascension Health, ADS Environmental, Ebsco Industries, and others.

“We are absolutely thrilled and humbled to be working with Alabama Futures Fund and can’t wait to show the world the incredible platform we’re building. Jim and I are both Birmingham natives and it feels so good to be backed and supported by institutions in our home state.” said Hoppe. 

Matt Hottle, Partner at Redhawk said, “The team at Con.doit represents exactly what we look for in early-stage companies. They are ambitious, smart and extremely receptive to feedback. We think their go-to-market strategy demonstrates Ian and Jim’s deep understanding of this space and how to position Con.doit for success.”

Birmingham, Alabama, July 1, 2020 – Alabama Futures Fund (“AFF”) recently placed an investment in True Load Time, Inc. (“True Load Time” or “TLT”). Based in Greenville, South Carolina, True Load Time has created a web and mobile-based platform where truck drivers, dispatchers, freight brokers, and supply chain professionals can search for average facility loading and unloading times prior to booking.

This data helps freight brokers, freight operators, and independent owner-operators gain critical insight into loading and unloading times, which is a major factor in correctly pricing a load, determining which loads to accept, and keeping drivers satisfied in a brokered transaction. As part of the investment by AFF, True Load Time will be moving its headquarters to Birmingham, Alabama.

Founded in 2018, True Load Time is the only platform that lets drivers, owner-operators and freight brokers see location-based loading and unloading times of booked shipments. This “detention” time is a major cost driver for freight carriers and, until now, has not been available to the industry at large. More than $302 million of motor carrier revenue is lost due to time sitting idle during loading and unloading (also known as
detention).

Most pay scales for drivers are based on miles driven, not time, which represents $1.3 billion in lost wages for drivers as they sit, unpaid, waiting to load or unload. Trucks may wait 15 minutes or 15 hours and are at the mercy of the point of origin’s schedule, efficiency and prioritization.
True Load Time gathers data from a broad spectrum of industry participants, technology vendors, and parallel service providers. TLT takes this data and provides location-based information on historic wait times and several predictive measurements to provide an estimate of actual detention time. Carriers, brokers and operators can use that information to
decide if those wait times are acceptable based on their priorities, existing schedules, and rates offered.

According to Kevin Nadeau, Founder and CEO of True Load Time, “We’re excited to enter the next phase of business development alongside the AFF team. Their depth of knowledge, community connections, and sincere enthusiasm for our vision and product created the foundation for a great partnership. Birmingham’s geographic location on the southern end of one of the busiest freight corridors in the country, as well as its thriving entrepreneurial, technology, and supply chain ecosystem made relocating there a win-win scenario for the True Load Time team.”

Matt Hottle, Partner at Redhawk Advisory, serving as the Investment Manager for AFF said, “Supply-chain and logistics is a vertical in which the Redhawk team has significant operating experience. We recognize valuable technology targeting the fragmented and underserved owner-operator market represents a huge opportunity. Mostly, we are excited about the
opportunity to partner with Kevin and his team who have leveraged their vast industry experience to solve an important problem. True Load Time is a compelling investment opportunity and we are excited to see them move to Birmingham as the newest AFF portfolio company.”

Alabama Futures Fund Invests in SynsorMed, Inc

Birmingham, Alabama, January 22, 2020 – Alabama Futures Fund (“AFF”) recently placed an investment in SynsorMed, Inc., (“SynsorMed”). Based in Tampa, FL and relocating to Birmingham, AL, SynsorMed has developed a cloud-based monitoring platform, commonly referred to as “Remote Patient Monitoring” (“RPM”), for healthcare organizations. The SynsorMed solution lowers the cost of patient care, increases medical practice revenue, reduces hospital re-admissions and empowers patients to take control of their personal health.

The SynsorMed platform is a device agnostic RPM platform. Each paired monitoring device has a Bluetooth sensor that transmits readings directly to the cloud through the SynsorMed app on a patient’s smartphone. SynsorMed is initially deploying its platform for use with devices that monitor patients with chronic pulmonary disease (“COPD”), but the company plans to expand into monitoring for congestive heart failure, diabetes and a range of other chronic conditions. With 44 million Americans on Medicare, a number that is expected to rise to 79 million by 2030, there is a large initial market for SynsorMed’s solution.

SynsorMed enables patients to measure key medical data from the privacy of their home and securely upload that data to their physician through the company’s proprietary, cloud-based app, thereby avoiding the need to schedule appointments for routine check-ups. Physicians using the SynsorMed platform have access to more robust patient data and can review patient records in real-time through an online portal and dashboard, which provides those physicians with additional available appointment time to serve other patients – leading to increased practice revenues.

SynsorMed was co-founded by Theo Harvey (CEO) and Amin Holmes (CTO). Mr. Harvey is an experienced entrepreneur, sales and engineering professional who spent 14-years at Cisco, most recently as a business development professional in Cisco’s healthcare group. Mr. Holmes has spent the last 15 years in the healthcare IT space working with healthcare organizations ranging from small practices to large hospitals.

According to Mr. Harvey, SynsorMed is looking forward to the move to Birmingham and understands the value of relocating to a city with a deep healthcare focus. “SynsorMed is excited about our move to Birmingham. We see tremendous opportunities to grow our business and build great relationships throughout the city and its vast healthcare ecosystem,” stated Mr. Harvey. “Birmingham is positioning itself to be a leader in entrepreneurship and it just makes sense for SynsorMed to be a part of this momentum.”

Mickey Millsap, Partner at Redhawk Advisory, serving as the Investment Manager for AFF said, “We are thrilled to add SysnorMed to the Alabama Futures Fund portfolio. Theo and Amin bring a wealth of experience in the healthcare IT space and both demonstrate the kind of hard work and commitment we look for in great founding teams.”

Alabama Futures Fund Invests in Linq, LLC

Birmingham, Alabama, January 8, 2020 – Alabama Futures Fund (“AFF”) recently placed an investment in Linq, LLC, (“Linq”). Based in Birmingham, AL, Linq is seeking to disrupt the traditional networking platforms currently on the market ranging from electronic business card apps and platforms like LinkedIn.

Founded in 2019 by Elliott Potter, Jared Mattsson and Patrick Sullivan, Linq offers several key differentiated features over other contact management technologies:
Linq doesn’t require users to sign up for a service, download an app or visit a website to share or receive other Linq cards. Linq cards are dynamically updated. As a user’s title, position, contact information or even employer change, that user’s Linq card will automatically update not just on the user’s phone but for everyone with whom they shared their Linq card. Linq provides integration with major Customer Relationship Management (“CRM”) systems, allowing Linq cards to be directly added to CRM databases. Linq provides a platform for people to gather actual contact information and integrate that information into their own business processes and workflows.

While sharing contact information through business cards is easy to do and carries a low incremental cost on a per card basis, traditional business cards are largely ineffective for several reasons. According to industry statistics, approximately 88% of business cards received are thrown out in the first week after receipt, the amount of sales revenue increases only 1.25% for every 1,000 cards distributed and only 18% of people exchange business cards when meeting someone while 35% of people keep contact information on their phone.

Even when cards are retained, those cards must be utilized through what is often manual integration with business processes, business systems like CRM or even added to someone’s phone address book. Many times, this represents a significant amount of time or a largely inefficient process of manual data entry across multiple platforms. Additionally, once someone’s contact information has been gathered and entered, it may need to be categorized or grouped, shared with others, put into marketing automation workflows and centrally managed to ensure all information is current. For individuals and professionals whose job function requires them to acquire, retain and utilize contact information, this can represent a significant amount of time and dedicated resources needed to accomplish basic contact curation.

Elliott Potter, Co-Founder of Linq said, “We’ve seen the innovation that Birmingham is capable of, and Linq is thrilled to partner with the Alabama Futures Fund to push those bounds even further. As we redefine the way people connect, we hope not only to change an industry, but to produce changemakers who are equipped to do the same.”

Matt Hottle, Partner at Redhawk Advisory, serving as the Investment Manager for AFF said, “The Linq founding team demonstrated many of the traits you hope to see in an early-stage company. They have specific, relevant experience, they have a big vision of what Linq can be and are extremely ambitious.”

Birmingham, Alabama, September 3rd, 2019 – Alabama Futures Fund (“AFF”), recently placed an investment in TeamingPro Inc., (“TeamingPro”). Based in Chesapeake, VA, TeamingPro has built a Software as a Service (“SaaS”) platform for the $560 billion federal contracting industry that allows companies to source new contract opportunities as well as “team” with other contractors to jointly compete for larger contracts. TeamingPro is relocating its worldwide headquarters from Chesapeake, VA to Huntsville, Alabama.

TeamingPro was founded in October 2017 in Chesapeake, VA by Tim Hagerty to address the incredibly fragmented and complex government contracting space. Today, companies rely on a myriad of different government-run platforms to source and bid on available contracts. Existing systems can be slow, provide little to no business intelligence and operate more like job boards than intelligent sourcing software.

Many government contracts require that prospective contractors team together with multiple service partners before submitting a bid. This creates a problem of finding qualified and professional teams with whom to partner. TeamingPro’s technology mines the myriad of government databases and aggregates it into a score for each contractor. Contractors using TeamingPro are able to quickly see the score for a particular contractor and then make a more informed decision about whether or not to partner with that contractor on a particular project bid. TeamingPro allows contractor of all sizes to compete for more contracts and use this unique technology to grow their business opportunities.

Tim Hagerty, President and CEO of TeamingPro said, “We are quite impressed with the dynamic team at the Alabama Futures Fund, who bring more than just exceptional investment capabilities but also strategic business acumen. And now, with our move to Huntsville, Alabama, an important federal contracting hub, we expect TeamingPro to grow exponentially.”

Mickey Millsap, Partner at Redhawk Advisory, serving as the Investment Manager for AFF said, ”TeamingPro is one of those companies focusing on a market left behind the technology curve and their platform will significantly improve the efficiency and outcomes for contractors navigating the complex and competitive government contracting landscape.”

Birmingham, Alabama, June 26, 2019 – Alabama Futures Fund (“AFF”), recently placed an investment in Prepaid2Cash Holdings, Inc., (“P2C”). Based in San Francisco, California, P2C uses advanced technologies to allow consumers to exchange gift cards for cash via their smartphones. In connection with the investment by AFF, P2C is relocating its worldwide headquarters from San Francisco to Birmingham, Alabama.

In 2017, the P2C team identified an opportunity to offer a fast, secure and affordable way to allow users to convert gift and prepaid cards into cash. Where competitors in the space have developed marketplaces that allow users to exchange cards or sell them to other users for cash at a discount, P2C’s technology and partnerships allow users to exchange their cards and receive payment directly to their bank account within 24 hours or via check in a few business days.

Since inception, P2C has processed millions of dollars in transactions, has thousands of users and is growing quickly.

According to Matt Hottle, partner at Redhawk Advisory, serving as the Investment Manager for AFF, “We loved this business model immediately. P2C brings a simple and valuable customer proposition with an advanced technology platform to a huge market opportunity. What the P2C team has done already is remarkable and we are excited to bring another great team and company to Alabama.”

“We are excited to join the burgeoning tech community in Birmingham,” said Peter Vogt, Co-Founder and CEO of Prepaid2Cash. “We were blown away by the ample resources and support available to a growing business like ours. This gives us confidence in our ability to scale our company and access new customers and tap regional connections.”

About Prepaid2Cash
Based in Birmingham, AL, Prepaid2Cash is a payments and financial technology company that easily, conveniently, affordably, and securely converts your network branded (Visa, MasterCard, Amex, Discover) prepaid cards as well as gift cards into cash. Simply download the app, scan your prepaid card, and get your cash direct-deposited in as little as 24 hours. Prepaid2Cash was founded by two financial technology entrepreneurs in San Francisco. They partnered with leading banking and payment institutions to offer simple, safe, and speedy service to help consumers redeem their prepaid cards for cash. Prepaid2Cash was launched to the public in 2016.

Birmingham, Alabama, March 5, 2019 – Alabama Futures Fund (“AFF”), recently invested in Case Status, Inc. (“Case Status”), a company that assists law firms to build deeper relationships with clients through client satisfaction, automation, and streamlined communication. In connection with the investment by AFF, Case Status has relocated its headquarters from Atlanta, Georgia to Birmingham, Alabama.

Through its unique focus on client-side communication, Case Status seeks to improve the client experience and help legal practices leverage technology to improve and automate their client communication workload. Utilizing both client-facing and attorney-facing dashboards, which are accessible through iOS and Android mobile apps, clients and their attorneys maintain real-time visibility on the status of their case. Encrypted text messaging allows attorneys and clients to communicate quickly about their case and sequenced satisfaction surveys provide feedback to attorneys and their firms about the clients’ experience throughout the case. The Case Status solution leads to a more efficient case management process, higher customer referral rates and stronger client-focused reputations for law firms.

There are 27 firms and more than 10,000 cases currently on the Case Status platform.

According to Mickey Millsap, partner at Redhawk Advisory, which serves as the investment manager for the Alabama Futures Fund, “We are excited to have the opportunity to partner with Case Status. Through their intuitive and sophisticated platform, Case Status solves one of the most important problems facing high case volume litigation attorneys – client communication and client satisfaction. We believe Case Status fills an important gap in an extremely active legal technology space and look forward to helping management grow this outstanding company.”

Lauren Sturdivant, CEO and Founder of Case Status, felt it was important to find the right partner as an investor, “We believe the missions of Case Status and the Alabama Futures Fund are very much aligned. We are both dedicated to building companies that solve real business problems on an exponential scale. AFF brings a wealth of knowledge, feedback, and acumen to the Case Status team. From our earliest days, we have focused on building deep, trusted, and expansive relationships for the benefit of law firms and their clients. AFF demonstrated their commitment to the same ideals.”

Additionally, Lauren noted this is a compelling time to be in Birmingham for founders, “In my opinion, in the next five years, the Birmingham tech ecosystem will expand rapidly, and it is a great time to join the community. The future is bright for Birmingham, and Case Status is excited to be a part of it.”

Birmingham, Alabama, December 18, 2018 – Alabama Futures Fund (“AFF”), recently placed an investment in Joonko, Inc. (“Joonko”), a company using advanced technologies to promote diversity and inclusion initiatives and create measurable change in companies of all sizes. In connection with the investment by AFF, Joonko has relocated its worldwide headquarters from San Francisco, CA to Birmingham, AL.

Joonko’s leading product, Joonko Pool, creates a pool of pre-qualified, diverse candidates and improves the diversity in participating companies’ talent acquisition pipelines. Joonko Pool is fully-automated, integrating with a participating company’s applicant tracking system and uses artificial intelligence to drive more diverse candidates to hiring managers. There are more than 47 customers currently using the Joonko Pool product.

According to Matt Hottle, partner at Redhawk Advisory which serves as the investment manager for AFF, “We couldn’t be more excited to bring Joonko and its founder, Ilit Raz, to Alabama. The Joonko technology and mission are truly impressive and this is a major win for the state. Recruiting an Israeli founder from San Francisco to Birmingham shows we are building a competitive, vibrant and compelling startup community. It also shows Alabama can compete with anyone for elite startups like Joonko.”

“Expanding our operations in the U.S. is an exciting moment, and we couldn’t find a better place than Birmingham. The connection between the history of the city and Joonko, combined with the amazing and supportive eco-system I’ve seen here, makes it the perfect place for us. Working alongside the Alabama Futures Fund has been incredible from day one. Their support of the business, willingness to make introductions, and belief in the team, product and mission is not something you find in every investor,” said Ilit Raz, Founder and CEO of Joonko.

Alabama Futures Fund Invests in Doctor Wellington, LLC

Birmingham,Alabama, December 19, 2018 – Alabama Futures Fund, LP (“AFF”) is excited to announce that it has recently closed an investment in Birmingham, Alabama-based VirtualCare, LLC (“VC”).  AFF’s investment will fund the launch of VC’s innovative Direct Primary Care platform, DoctorWELLington.

DoctorWELLington will provide access to virtual care, telemedicine and primary care physician office visits for a low monthly subscription fee, without co-pays, deductibles and other traditional insurance fees. A first-of-its-kind approach, DoctorWELLington uses an integrated technology platform to offer end-to-end continuity of care to patients through a network of primary care physicians.

TheDoctorWELLington service will be available to consumers directly or through participating employers as a supplemental healthcare benefit.

According to Mickey Millsap, partner at Redhawk Advisory who serves as the investment manager for AFF, “We believe that VirtualCare, through use of its DoctorWELLingtonproduct, is positioned to disrupt the traditional direct primary care market. We are very excited to see this company grow its forward-looking technology herein Alabama.”

SamEskildsen, the founder and CEO of VirtualCare shares in that excitement,”DoctorWellington has a chance to revolutionize the way people get their Primary and Urgent Care. It is exciting to think that Alabama could be the birthplace of something so disruptive and on the leading edge of healthcare. Without the Alabama Futures Fund this would not have been possible. Their focus ongrowing the Alabama start-up ecosystem and incubating homegrown early-stage companies like VirtualCare is what makes it possible. It has been a joy to work with them. The process has been professional, quick, and exactly what early-stage startups need access to.”