NEW YORK, Nov. 18, 2021 /PRNewswire/ -- Hum Capital today announced the expansion of its Intelligent Capital Market (ICM), enabling it to facilitate equity fundraises on the platform. The ICM can now support companies raising both equity and debt capital, offering entrepreneurs a one-stop platform for a broad range of private capital transactions. The company also completed a second close on its Series A bringing the total round to $21 million with the addition of new strategic investors including an affiliate of investment bank Cowen and Company, and investment management firm Invesco Private Capital. Cowen and Company Co-President Larry Wieseneck will join Hum's board.
"Pursuing investor relationships one-by-one is like travel was in the 1980s," says Blair Silverberg, Hum Capital's CEO and co-founder. "In the modern economy, we believe that companies should be able to access the entire market of capital sources when funding their growth, not just the ones companies know. By expanding Hum's services to include equity raises, we're empowering companies to navigate the private capital markets with a single portal, much like travel via Kayak."
Hum's ICM is the machine-learning engine that analyzes a company's performance and identifies financing options and pre-qualified investors that align to the company's goals and financials. The efficiency of Hum's matching engine and the value of performance-based analytics to the fundraising process have resonated with companies. This year, companies have secured more than $400 million in capital commitments on Hum's platform.
With the expansion into facilitating equity deals, Hum will further diversify the investors on the ICM, and the options available to companies. Given the data-driven nature of Hum's platform, support on equity raises will focus on companies at the Series B stage or later. Today, the average annual revenue of companies using Hum is $17 million.
The institutional participation in Hum's Series A fundraise signals the platform's potential to bring a more scalable, data-driven approach to the $7 trillion private markets by streamlining due diligence, sharpening analysis and providing personalized deal flow to investors.
"Cowen is committed to building, finding and utilizing innovative technologies to allow us to better serve our clients as we continue to grow our banking presence," said Larry Wieseneck, Co-President of Cowen and Company. "Hum's AI-integrated approach is aligned with our core strategy of identifying disruptive companies as they scale. Its data-driven capabilities that ingest and utilize corporate financial data will bring significant efficiencies to how private companies are evaluated and financed. We are very excited to be a strategic partner with Blair and the entire Hum team."
To support the continued expansion of its platform and product offerings, Hum has added key members to its leadership team. Basile Senesi joins as Chief Revenue Officer, having previously led sales and strategy for Fundbox, a lending startup that serves small- and medium-sized (SMB) businesses. Senesi also served as a strategic advisor to Pipe. Additionally, Chris Dolezalek joins as Executive Vice President of Research & Development; Dolezalek has previously held engineering roles at companies such as Pure Storage, Twitch and most recently Prosper.
ABOUT HUM CAPITAL
Hum Capital is the funding platform that connects great companies with the right capital. Hum offers companies raising up to $50 million the most efficient, transparent path to growth. Hum's Intelligent Capital Market uses AI to translate volumes of a company's financial data into the clearest picture of their value, so they can fundraise with confidence, on the best terms for their business. Investors on Hum's platform gain investment insights and a personalized deal flow built on company data they can trust. For more information, visit www.HumCapital.com.
SOURCE Hum Capital