STARTUPS & INNOVATIONS

FINANCING

Cyvatar, the developer of a subscription-based cybersecurity software management platform, raised $3 million from Austin-based Bill Wood Ventures on Oct. 6.

The Irvine-based firm launched its platform last year to help small and mid-sized businesses navigate the hundreds of cybersecurity tools available; and implement and maintain the tools as needed.

It’s partner network includes industry-leading services such as Okta and Obsidian.

Many companies purchase “cool tech” without knowing how to make the most of the software for their organization’s needs, said co-founder Corey White, the former chief experience officer of Blackberry Cylance.

“We wanted to build a company for the customer. We’re acting as the cyber avatars for our customers.”

Cyvatar helps companies safeguard their information from cyber attacks, social engineering schemes and other threats, as well as respond to threats quickly as they arise and maintain compliance standards.

Its services are becoming increasingly important, as more employees access private information from their homes while working from home, said co-founder Craig Goodwin, the former chief trust and risk officer at Fujitsu.

With the new funds, the company said it will incorporate additional automation features and artificial intelligence capabilities into its platform.

Capillary Biomedical Inc., of Irvine, this month received a $1.5 million investment from The Leona M. and Harry B. Helmsley Charitable Trust.

Funds will support clinical studies for CapBio’s SteadiFlow technology—a small, flexible tube used to administer medicine to the bloodstream—which is part of its SteadiSet Infusion Set.

CapBio aims to improve insulin infusion therapy for patients with Type 1 diabetes by creating a better connection point that stays in place for at least seven days.

Current options often fail within three days or sooner, which can lead to dangerously high blood sugar and in turn hospitalization and other health impacts, the company says.

Furthermore, many patients with Type 1 diabetes forgo insulin pump therapy, and instead chose to self-administer insulin in timed injections throughout the day because of the challenges of pump therapy, the company says.

CapBio plans to complete feasibility and clinical studies that demonstrate increased comfort and decreased tissue inflammation with its SteadiSet.

It also plans to evaluate its system for use up to 14 days.

CapBio’s technology was developed at the Thomas Jefferson University with support from the National Institutes of Health and the JFRF T1D Fund.

The company has raised more than $10 million in additional private funds from angel groups including Tech Coast Angels’ Orange County and San Diego chapters.

Virtanza, a Laguna Beach-based salesforce training platform, raised $905,000 in seed financing from private investors.

The company will use the funds to scale the business with educational partners and build out software features, such as an employer portal that will connect certified students with potential employers, which is expected to be released next year.

Chief Executive Debbie Holzkamp launched Virtanza two years ago to fill a gap in sales training and rampant demand for sales workers, she told the Business Journal.

“Employers can’t find pre-qualified sales employees and at the same time there continues to be a lack of sales education programs in higher education,” Holzkamp said.

Recent data shows there are about 109,000 sales jobs available in California with the majority of positions offering $50,000 or more a year, she said.

Virtanza teaches sales theory and real-world skills, and pairs students with specific sales roles that will suite their personality and preferences.

The company’s certificate programs are available at the University of California-Irvine, among other universities.

NEW HIRES

BookingPal, an Irvine-based vacation rental software firm, appointed Agustin Fiori to lead operations of its European-focused privately labeled channel and revenue management offering.

Fiori was most recently head of supply of Traum-Ferienwohnungen, a division of European vacation rental platform OYO Vacation Homes. He also served as chief operating officer of Rentals United, a channel operator for Airbnb, Booking.com and others.

“BookingPal provides the most advanced and comprehensive vacation rental distribution technology in the industry to drive value and success for our customers,” said Fiori. “I know first-hand the critical and growing role technology plays for our customers. It’s a critical solution for our vacation rental property managers, and BookingPal certainly has unmatched capabilities.”

BookingPal, which has raised more than $18 million to date, is the technology provider for Marriott International’s vacation rental platform. 

Equinox Ophthalmic Inc. this month named Stuart Raetzman its executive chairman. 

The Newport Beach-based firm is developing the Mercury Multi-Pressure Dial, which aims to treat glaucoma and other eye diseases by correcting an imbalance between intraocular pressure in the eye and intracranial pressure in the brain. 

Raetzman was previously CEO of aesthetics firm Nestle Skin Health and Galderma and has held leadership positions with Alcon, Allergan and Chiron Vision. 

“In healthcare, you get few opportunities to change the paradigm and develop disease-modifying options for patients and the physicians,” Raetzman said. “I am honored to join Equinox at this exciting time.”

Equinox raised a $22 million investment round in August 2019. Its backers include Aliso Viejo-based Visionary Ventures, Newport Beach-based Flying L Partners and Bluestem Capital of Sioux Falls, SD.