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BPOC Completes Sale of Health-E Commerce

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CHICAGO, June 18, 2024 — BPOC, one of the longest-tenured private equity partners to middle-market healthcare businesses in the U.S., today announced that it has completed the sale of Health-E Commerce (“HEC” or the “Company”), a leading e-commerce retailer of flexible spending account (FSA) and health savings account (HSA) eligible products and telehealth services.

Founded in 2010, HEC offers over 2,500 FSA and HSA eligible products and services from top brands and partners, as well as from its own private label brand, Caring Mill, through the e-commerce sites FSAstore.com and HSAstore.com. The Company simplifies the purchasing journey for consumers with FSA and HSA benefits and guarantees eligibility across all categories, including over-the-counter medications, pain relief, skin and personal care, sun protection, diagnostic products, first aid, telehealth and more.

In 2019, BPOC partnered with HEC founder Jeremy Miller and the Company’s management team to support a period of significant investment and growth. Preston Farrington, Chief Executive Officer of Health-E Commerce commented, “Over the past five years, BPOC has been an invaluable partner to us as we built our team, invested in technology and expanded service offerings that provide meaningful value for our third-party administrator partners and consumers with FSA and HSA accounts. We appreciate BPOC’s collaborative partnership, resources and guidance throughout our journey together.”

“It has been a privilege to work with the Health-E Commerce team and to support the Company through this period of impressive growth. Health-E Commerce has consistently provided high-quality FSA and HSA eligible products and services to its customers. Our partnership with management and the Company’s strategic progress has strengthened that customer promise and led to great results for the Company,” said Grant Patrick, Partner at BPOC. “We wish the team continued success”.

William Blair & Company acted as lead financial adviser to the Company on the transaction. Raymond James also acted as financial adviser and Paul Hastings LLP acted as legal counsel to the Company on the transaction.

About Health-E Commerce

Health-E Commerce is a leading e-commerce retailer of FSA and HSA eligible products and services. HEC sells over 2,500 eligible products and services from top brands as well as its own private label brand, Caring Mill, through the e-commerce sites FSAstore.com and HSAstore.com.

About BPOC

BPOC is a Chicago-based private equity firm that invests exclusively in healthcare companies. With an extensive network of industry contacts and dedicated operating executives, BPOC has a track record of successfully partnering with companies through multiple economic and healthcare regulatory cycles.

Founded in 1996, BPOC has completed over 60 platform investments and has raised six funds with over $2.2 billion in total capital commitments. BPOC has invested in numerous providers, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations.

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Barn2Door Secures Growth Funding From Decathlon Capital Partners

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Software company utilizes a flexible, revenue-based funding package to support growth and expansion without dilution

Barn2Door,Inc. a rapidly-growing software company focused on helping farmers sell direct to market, has landed a significant investment from Decathlon Capital Partners. Details of the revenue-based funding transaction were not disclosed.

“We’re looking forward to working with Decathlon, as we know their team understands our goal to make selling direct-to-market a breeze for our current farmer partners, in addition to the many to come.” – James Maiocco, Barn2Door COO

Headquartered in Nashville, Barn2Door will use the funding to expand its investment in new platform functionality and expand its go-to-market and customer service functions. Barn2Door is an all-in-one business solution platform that allows farmers to promote their own brand, sell online or in-person, and save time managing their business.

Janelle Maiocco, Chief Executive Officer of Barn2Door, said Barn2Door aims to make accessing Farm products as easy as possible for buyers. “Our solution enables farmers to sell anytime, anywhere, and to anyone, whether they be wholesale or retail purchasers,” Maiocco said. “We want farmers to build a thriving business. We offer software and services to help Farmers grow their brand, and develop go-to-market strategies informed by best practices and data insights captured from millions of buyers.”

James Maiocco, Chief Operating Officer of Barn2Door, said Barn2Door will repay its investment from Decathlon Capital Partners through its future revenues, thanks to the dilution-free funding package. “We’re looking forward to working with Decathlon, as we know their team understands our goal to make selling direct-to-market a breeze for our current farmer partners, in addition to the many to come,” Maiocco said.

John Borchers, Managing Director of Decathlon Capital Partners, said Decathlon looks forward to supporting Barn2Door as the company continues to grow. “Barn2Door is already serving thousands of farms throughout the United States,” Borchers said. “Decathlon can’t wait to watch the growth trajectory of their software platform as more farmers will take advantage of this easy-to-use solution.”

About Barn2Door
Barn2Door offers software for Independent Farmers to create and promote their brand, sell online and in-person, and save time managing their business. Built for Farmers, Barn2Door enables Farmers to make their products available across all channels and simplify order management. Serving 1000’s of Farms across all 50 States, Barn2Door has become the largest vertical commerce solution exclusively serving Farmers. With data insights gathered across millions of orders, Barn2Door continues to debut innovations to help Farmers increase sales, attract more buyers, and save time.

About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors.

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Managed Wi-Fi solutions provider Airties Opens Software Innovation Center in Bangalore, India for Smart Wi-Fi

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  • New center in Bangalore aims to enhance AI, Cloud, & DevOps capabilities of Airties

Airties, a global leader of managed Wi-Fi solutions for broadband service providers, today announced it has opened its first office in India a new R&D center based in Bangalore, focused on enhancing the AI, cloud, and DevOps capabilities of Airties for use in Smart Wi-Fi deployments.

Airties, headquartered in Paris, France, currently has other significant offices in Belgium, Turkey, and the United States, and employs approximately 400 people around the globe. The new center in India aims to employ around 100 specialized software engineers focused on further extending the capabilities of Airties Cloud management platform. To mark the occasion, the company recently held an official office opening ceremony in Bangalore attended by Metin Taskin, CEO and founder of Airties; Sachin Chickballapur, CTO of Airties; Mujdat Pakkan, Executive Vice President of Engineering; Siddharth Das, General Manager of Airties in India; and local dignitaries including Dr. Ashwath Narayan C. N., Honorable Member of Legislative Assembly, Karnataka, former Deputy Chief Minister of Karnataka and Minister of Electronics, Information Technology – Biotechnology, Science and Technology, Higher Education, Skill Development, Entrepreneurship and Livelihood in Government of Karnataka.

“At Airties, we recognize that our success at enabling leading ISPs to innovate and differentiate comes directly from our ongoing commitment to software R&D,” said Metin Taskin, CEO and founder of Airties. “Our new, world-class software innovation center in Bangalore aims to attract the very best engineers interested in applying their skills to enhance the broadband experience for fiber, cable, and fixed wireless providers the world over.”

“The huge talent pool in India for AI, data science, cloud-native software development, and DevOps will allow us to build an exceptional team that will address our rich feature roadmap, working closely with the other Airties teams, partners and customers worldwide,” said Sachin Chickballapur, CTO of Airties.

Airties’ unique hybrid cloud-edge software architecture leverages both the embedded intelligence in customer premises equipment and the cloud to maximize responsiveness and home Wi-Fi performance. Airties software portfolio includes Airties Edge, smart Wi-Fi software for gateways/routers/extenders, which intelligently directs consumers’ devices (laptops, tablets, phones, game consoles, IoT, smart home devices, etc.) to the best available Wi-Fi access point and frequency band based on real-time network conditions. The software, based on industry standard Wi-Fi EasyMesh™, can also turn existing home gateways into an intelligent Wi-Fi mesh access point, improving the quality and stability of connectivity within the home. Airties Cloud helps monitor and orchestrate Wi-Fi across homes, optimizes broadband gateways and mesh extenders to ensure a better quality of experience, delivers insights on connected devices, and provides APIs to power operator’s customer facing support apps. Airties Orbit, is a continuous test automation platform for broadband service providers, customer premises equipment (CPE) manufacturers, and system-on-chip (SoC) manufacturers to support Smart Wi-Fi integrations and deployments.

Airties has been recognized with many prestigious industry awards, including: “Best Home Wi-Fi Solution Award” from Broadband World Forum; “Best Wi-Fi Service Provider Solution” and “Best Home Wi-Fi Product” awards from Wi-Fi NOW; “Best Wi-Fi Innovation” and “Best-In Home Wi-Fi Network” awards from Wireless Broadband Alliance; “Best Broadband Customer Experience” from Cable & Satellite International; and many others. Additional information about Airties can be found at: www.airties.com.

About Airties
Airties is a leading provider of managed Wi-Fi solutions to operators around the globe. The Smart Wi-Fi portfolio from Airties includes Airties Edge, smart Wi-Fi software for gateways; Airties Cloud management platform and its companion app; Airties Orbit, a continuous test automation platform; and Wi-Fi mesh extenders. Operators turn to Airties for the design, implementation, and ongoing optimization of their customers’ broadband experience. Airties’ customers include AT&T, Deutsche Telekom, Sky, Telia, Telstra, T-Mobile US, Vodafone, and many others.

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Singapore and Indonesia-based RHAD, a Dog Digital Partner, Expands into the Indian Market with a Focus on Creative Storytelling and AR

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RHAD, a leading creative and technology agency and partner of Dog Digital, today announced its expansion into the Indian market. The Singapore and Indonesia-based agency will leverage its expertise in creative storytelling and augmented reality (AR) to empower brands in India.

“We are thrilled to bring RHAD’s unique blend of creativity and technology to the dynamic Indian market,” said Hrishit Trivedi, Chief Storyteller, India, at RHAD India. “India is a hub for innovation, and we see immense potential for AR and creative storytelling to help brands connect with audiences in a more meaningful way.”

Kutbuddin Patanwala, Business Lead, India, at RHAD, added, “I am excited about our future plans to drive growth by enhancing revenue for our clients through our advanced AR/VR digital solutions. We aim to expand our presence, diversify our services, and form strategic partnerships, ensuring we meet our clients’ evolving needs and achieve sustainable success in India.”

RHAD will focus on offering a wide range of services to clients in India, including:

  • Creative Strategy and Development: The agency will help brands develop creative concepts and campaigns that capture attention and drive results.
  • Content Marketing: RHAD.Agency will create engaging content that educates, entertains, and inspires audiences.
  • AR Development: The agency will leverage its expertise in AR to create innovative experiences that allow consumers to interact with brands in new ways.

About RHAD

RHAD, a Singapore-based creative and technology agency, in partnership with Dog Digital (UK) helps businesses accelerate their digital journey and helps brands connect with audiences in a meaningful way. The agency offers a wide range of services, including creative strategy, content marketing, and AR development.

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