Icon News

The latest from inside Icon and our portfolio companies.


Ionic Security Secures $45 Million Growth Round

Amazon.com Inc., Goldman Sachs and Hayman Capital Join Impressive List of Equityholders Ionic Security Inc., a pioneer of high-assurance data protection and control, announced today that it has raised US$45 million in a growth round of funding and welcomed Amazon.com Inc., Goldman Sachs (NYSE: GS) and Hayman Capital as equity holders. This growth round brings the total funding to date for Ionic to US$122 million. Existing investors, including GV (formerly Google Ventures), Icon Ventures, Kleiner Perkins Caufield & Byers, Meritech Capital Partners, and Tech Operators also participated in the round. Goldman is an early Ionic platform adopter and was one of the company’s first customers. Funds will be used to accelerate the global adoption of the Ionic platform beyond the Fortune 100.


The Muse Raises $16 Million to Expand Career Ecosystem for Employers and Candidates


2016: The year VC investors return to capital efficiency



Teladoc Announces Pricing of Sale of Shares of Common Stock

Teladoc, Inc. (NYSE:TDOC) (“Teladoc”) today announced the pricing of the previously announced offering of shares of its common stock, which includes 6,650,000 shares offered by Teladoc and 1,600,000 shares offered by certain stockholders of Teladoc named in the preliminary prospectus supplement (the “selling stockholders”) at a price to the public of $16.75 per share. The offering is expected to close on or about January 24, 2017, subject to customary closing conditions. In addition, the underwriters have a 30-day option to purchase up to an additional 1,237,500 shares of common stock from Teladoc.

The proceeds of the primary portion of the offering will be used by Teladoc for working capital and general corporate purposes, including to expand its current business through acquisitions of, or investments in, other businesses, products or technologies. Teladoc will not receive any proceeds from shares of common stock to be sold by the selling stockholders.



Reimagining the Business Banking Experience: Bill.com and Capital One Spark Business Partner to Bring Simple, Seamless Online Payments to Small Businesses

Digital technology is shaping the future of banking and payments, and Bill.com is partnering with leading banks and fintech providers to pave the way for small business owners.

As the end of printing, mailing, and signing paper checks draws ever closer, we’ve forged many exciting partnerships over the years to give our customers options. Today, we are thrilled to announce one of the largest and most impactful yet:

Announced today, Bill.com and Capital One® Spark Business® are partnering to create groundbreaking new bill pay and financial management experiences for small and medium businesses.

As more businesses look to bank online, Bill.com is giving banks the tools they need to become the home for small and medium business payments.



Analyte Health and Teladoc Announce Partnership

Solution integrates lab testing to improve the overall telehealth experience for patients and physicians

Analyte Health, Inc., an integrated health care partner that connects patients and telehealth providers with laboratory testing services and Teladoc, Inc. (NYSE: TDOC), the undisputed leader in telehealth, announced a partnership that delivers lab diagnostics services through the Teladoc telehealth platform.

“The evolution of telehealth has changed the way we receive and deliver care. Our integrated solution enhances diagnostic capabilities for physicians while meeting patients’ growing demands for private and convenient health care,” said Dr. Frank Cockerill, CEO, Analyte Health. “Teladoc’s leadership in the telehealth industry has transformed the approach to care and we are excited to assist them in expanding their services. The partnership between Analyte Health and Teladoc bridges the gap between lab testing and telehealth, and together, we are reinventing the health care experience for patients and physicians.”



Teladoc Completes Record Visit Volume in 2016; Provides Preliminary Unaudited 2016 Results and 2017 Financial Outlook

Teladoc, Inc. (NYSE: TDOC) today announced certain preliminary unaudited 2016 results and financial outlook for 2017.

“In 2016, we drove record annual visits and significant growth in our business, powered by our premier consumer engagement capabilities, broad network and scalable platform”, said Jason Gorevic, chief executive officer of Teladoc. “We continue to positively transform the healthcare experience for our members and deliver meaningful ROI to our clients.

“On the heels of a successful selling season, we begin 2017 with considerable membership growth, an accelerating pace of utilization, and a solid foundation to maintain our market leadership and execute on our revenue and profitability targets,” Gorevic continued.



Teladoc sets industry record, surpassing 2 million telehealth visit milestone

Teladoc, Inc. (NYSE: TDOC), the undisputed leader in telehealth, providing access to care for millions, announced today that in December the company surpassed the mark for providing a total of more than two million patient visits. Teladoc was the first and only telehealth provider to reach the one million patient visit mark in October 2015, and now with accelerated utilization of the service, Teladoc has achieved the second million visits in only 14 months.

Teladoc’s accelerating utilization fuels the company’s track record of driving meaningful savings for clients and the overall healthcare industry. Based on a recently completed, comprehensive study performed by Veracity Analytics, this two million visits milestone translates into more than $900 million that it is estimated Teladoc has saved its clients, and the American healthcare system, since its inception. Led by Dr. Niteesh Choudhry, a Harvard Researcher and Physician at Brigham and Women’s Hospital, the study, using an advanced ROI methodology and data from nearly two million members, has found an average savings of $472 per visit.



Reputation.com Accelerates Growth with $20M Investment Led by Strategic Healthcare Fund

Reputation.com, the leading provider of Online Reputation Management (ORM) technology and services, today announced that it has received a significant investment from Ascension Ventures, a prominent strategic healthcare fund which is funded by many of the nation’s leading non-profit health care systems.

Together with additional investments from existing major backers — including August Capital, Bessemer Venture Partners, Icon Ventures, Kleiner Perkins, and Focus Ventures — the new round of funding totals $20 million.

“Our health system partners are seeing a shift in the way patients decide where and from whom they receive care and are turning to the same channels they rely on for other consumer purchasing decisions to share their experiences — online reviews and social media,” said Matt Hermann, senior managing director of Ascension Ventures. “Reputation.com offers a comprehensive set of data automation and workflow tools that enable any healthcare organization to effectively and efficiently engage patients in these online interactions at scale, as well as deliver the analytics tools to uncover leading indicators of the patient experience in order to improve clinical and operational performance.”



Thanx Secures $17.1M Series B from Icon Ventures and Sequoia Capital to Bring Big Data to Brick-and-Mortar Merchants

Thanx, which empowers merchants to grow their business through deeper customer loyalty, today announced a $17.1M Series B financing led by Icon Ventures and Series A investor Sequoia Capital, with participation from Javelin Venture Partners. Thanx will use the capital to grow its sales and engineering teams and deliver its personalization and retention tools to national retailers.

Unique in the retail IT market, Thanx eliminates the technical burden of hardware or on-site integrations which have previously made it difficult for brick-and-mortar merchants to access and act on customer purchase data. Through direct data partnerships with Visa, Mastercard and American Express, Thanx delivers world-class retention marketing and engagement campaigns with demonstrable return on investment as high as 4000%. Thanx now also ingests item-level purchase data from almost any point-of-sale. Currently in pilot, the enhancement will be rolled out to enterprise customers throughout 2017.

“The top quartile of customers often drive as much as 70 percent of a merchant’s revenue. Identifying, engaging and retaining these loyalists is fundamental to growth,” said Zach Goldstein, Founder and CEO of Thanx. “Thanx is, on the one hand, the easiest way to acquire this data. On the other hand, it’s a robust suite of automated, revenue-generating marketing tools that act on that data.”

“Thanx’s ability to move merchants away from blanket, untargeted discounting to mass personalization is really impressive,” said Joe Horowitz, Managing General Partner at Icon Ventures, who joined the board of directors. “Thanx offers, without question, the most elegant and seamless solution we have seen for collecting and using customer data to drive real revenue.”

Of the three billion loyalty memberships in the United States, only 40% were active in the last year. By comparison, 98% of Thanx members remain active. The markedly-better retention rate can be attributed to a seamless consumer experience, as simple as paying with any credit card.

Mixt, a health-focused fast-casual restaurant chain, has doubled its location count since launching as an early Thanx customer. “Of all our marketing channels, Thanx is most directly tied to measurable increases in revenue and customer satisfaction,” said co-founder David Silverglide. “Our Thanx customers are happier and visit 25% more often.”

“Investment in online marketing has grown dramatically due, in part, to directly attributable results. Thanx brings this ROI focus to brick-and-mortar marketing and has already demonstrated meaningful revenue increases for customers,” said Thanx board member and Sequoia partner, Bryan Schreier. “In this massive market, the best product and results will ultimately win.”

About Thanx
Thanx helps merchants drive increased revenue from top customers through automated loyalty, feedback, and marketing tools and eliminates the integration hassles of traditional programs. Thanx is financed by Sequoia Capital and other elite Silicon Valley investors. Interested merchants can visit thanx.com/merchants to learn more.




Teladoc Sets Record with 100,000 Telehealth Visits during November

Teladoc, Inc. (NYSE: TDOC), the undisputed leader in telehealth, providing access to care for millions, announced today that a company record was set during the month of November with a total of 101,600 patient visits. The impressive milestone was fueled by an increase in utilization among existing members, along with new members and expanded clinical services. The American Telemedicine Association (ATA) predicted the telehealth industry to record a total of 1.25 million visits in 2016, and Teladoc is accounting for significant growth in the market as demonstrated by its new record monthly visit volume.

“This new milestone of more than 100,000 monthly patient visits further substantiates that Teladoc has the scalable platform, clinical expertise and member support needed to effectively manage the increased volume as more and more consumers are engaging with us,” said Stephany Verstraete, chief marketing officer, Teladoc. “Our innovative approach to driving adoption is proving effective in shifting member mindset; members are embracing Teladoc as a valued care option.”



Scaling 6,783% While Building Culture (& Without Losing Your Mind) – By Kathryn Minshew, Founder & CEO at The Muse

Growth. It’s something that all businesses pursue, and it’s something that we’ve been doing quite a lot of at The Muse.

Today, I’m so honored and humbled to share that we were ranked number 16 on Deloitte’s Technology Fast 500 list, with revenue growth of 6,783% over the last three years.

Of course, these numbers are something we’re incredibly proud of. But, beyond that, I’m even more proud of the team we’ve built and the culture we’ve maintained as a company. We’ve rallied a group of passionate, driven, and brilliant people around our mission (currently 130 and counting!), with remarkably high retention, and that wasn’t a happy accident.

I often get asked about how we maintain our culture while growing so rapidly, and my first response is usually to explain that it’s something we’re always actively working on. But, today I thought I’d get a little more specific and share a few of the strategies we’ve put into place to ensure that we’re not just growing a business—but growing one that we’re proud of, inside and out.



Synack Launches First Ever Crowd Security Intelligence Solution for Government, Announces IRS Contract

Synack, winner of the government’s largest crowdsourced vulnerability discovery contract through the Department of Defense’s “Hack the Pentagon” program, today is launching Synack Government. Synack is already Fortune 500 companies’ top choice for crowdsourced security testing, and this new line of business responds to mounting demand from federal, state, and local agencies for a government-dedicated solution. Synack is now officially unveiling a tailored solution, Crowd Security Intelligence™ Federal, to provide an adversarial perspective on the security of agencies’ sensitive, mission-critical IT assets. Today, Synack is also announcing the work they have been doing with the U.S. Internal Revenue Service (IRS) under a $2M contract to pioneer a model that proactively protects sensitive government and taxpayer data on the irs.gov domain.

Building your collection...