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Invoice2go Raises $10 Million, Attracting New and Existing Investors, and Hemi Zucker from OCV Partners to join the Board of Directors

REDWOOD CITY, Calif., Sept 11, 2018 — Invoice2go announces it has closed a $10 million equity round led by OCV Partners, with additional participation from existing investors Accel and Ribbit Capital. Hemi Zucker of OCV Partners joins the Invoice2go Board of Directors. Previously, as co-founder and CEO of j2 Global (JCOM), Zucker grew the organization into a global platform servicing 50+ markets. The new investment brings the total equity raised by Invoice2go to $60 million. The new funding fuels Invoice2go’s product innovation and rapidly growing offering for small businesses.

Invoice2go, the mobile invoicing app that gives small business owners and contractors control over their time and business, helps more than 250,000 customers around the globe send $24 billion in invoicing every year.

“Offering our customers a straightforward way to manage their business has fueled our mission from the beginning,” said Greg Waldorf, CEO of Invoice2go. “It’s this relentless dedication and unique approach to solving the challenges shared by small business all over the world that continues to attract not only investment, but momentum with the community we serve.”

Invoice2go will use the funding to accelerate its mission, and serve even more business owners with intuitive new ways to win jobs, track estimates and payments, and enable their customers to pay any way.

The company continues to significantly evolve the Invoice2go offering, releasing powerful, yet simple-to-use features that help business owners not only better manage their business, but also win more jobs, and grow as a result. The latest features released include Time Tracking, a seamless way to capture and bill for time, Appointments, a way to create and manage appointments on the go, and the ability to collect up front deposits.

“By understanding the true needs of their customers, Invoice2go has been able to build a powerful product that’s given more than 250,000 business owners the right mobile tools to stay on top of their business, and the confidence they are operating in the most professional, efficient way possible. We’re excited to join them on their mission to help even more people around the world not only manage, but meaningfully grow their business,” said Hemi Zucker, Managing Principal of OCV Partners.

About Invoice2go
Invoice2go is the mobile invoicing app that gives small businesses control over their time and business. Invoice2go gives its customers straightforward tools to track jobs, stay on top of payment status, and offer their clients the ability to pay any way so they can get the job done. The company was started by a small business owner who came from a family of tradespeople and wanted to help them streamline invoicing and getting paid. Today, Invoice2go’s popularity has spread around the globe, with more than 250,000 small business owners in 160+ countries using the app to send $24 billion in invoicing every year. For more information, visit invoice.2go.com.

OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and Mark Yung in 2016. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of 19 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.

Precision BioSciences Raises $110M to Advance ARCUS Genome Editing Programs

DURHAM, North Carolina, USA, June 26 2018 –Precision BioSciences today announced the closing of an oversubscribed $110M Series B financing to further product development efforts based on its ARCUS® genome editing platform. The financing was led by ArrowMark Partners and was joined by new investors Franklin Templeton Investments, Cowen Healthcare Investments, Brace Pharma Capital, Pontifax AgTech, OCV Partners, Adage Capital Management, Cormorant Asset Management, Gilead Sciences, Vivo Capital, Alexandria Venture Investments, Ridgeback Capital, Agent Capital, and entities affiliated with Leerink Partners. Existing investors venBio, F-Prime, RA Capital Management, Amgen Ventures, Osage University Partners, DUMAC, and the Longevity Fund also participated in the financing.

Precision intends to expand applications of its ARCUS genome editing platform in the areas of immuno-oncology, genetic disease, and food on its way to building a fully integrated biotechnology company. ARCUS is Precision’s proprietary, homing endonuclease-derived genome editing platform that leverages the small size and high specificity of a natural genome editing system. During 2018, Precision plans to utilize the proceeds from this financing to accelerate and expand its product portfolio. Specifically, Precision targets taking its lead, off-the-shelf CAR-T product into the clinic while advancing both its lead in vivo gene therapy program into IND-enabling studies and its flagship food program into field trials.

“We are thrilled to have such strong support from these leading healthcare investors who share in our vision for the future of human health through innovations in food and medicine,” said Matt Kane, CEO of Precision. “This financing provides us with a strong foundation from which we can advance our translational genome editing programs in multiple sectors.”

In conjunction with the Series B financing, Tony Yao of ArrowMark Partners has joined the Precision Board of Directors alongside existing directors Matt Kane, Derek Jantz, CSO of Precision, and Robert Adelman of venBio.

“We believe that Precision’s core gene editing technology represents a new way to alter the genome, and we are utilizing this technology to address several areas of great unmet need,” said Tony Yao, M.D., Ph.D. “I look forward to working with the team as we advance our programs.”

Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP acted as outside counsel to Precision in connection with the financing.

About Precision BioSciences
Precision BioSciences is dedicated to improving life. Our mission is to cure genetic disease, overcome cancer, and feed the planet. We are striving to achieve this goal with ARCUS, our therapeutic-grade, naturally-derived genome editing system that combines both specificity and efficacy to help overcome life’s greatest genetic challenges. For additional information, please visit www.precisionbiosciences.com.

About OCV Management LLC
OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and Mark Yung in 2016. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of 19 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.

 

Hemi Zucker to Join OCV Management as Managing Principal

LOS ANGELES – OCV Management LLC (“OCV”), a technology investor based in Los Angeles, announced today that Nehemia (“Hemi”) Zucker will be joining the firm as Managing Principal starting on January 1, 2018. Until such date, Hemi will continue as CEO of j2 Global Inc. (NASDAQ:JCOM). As disclosed in today’s press release issued by j2 Global, the company also plans to commit $200 million to invest with OCV to pursue the company’s venture growth strategy under an entity of j2 Global.

As Managing Principal at OCV, Mr. Zucker will co-manage the firm alongside Mark Yung, OCV’s co-founder and Managing Principal. Hemi brings to OCV a breadth of experience spanning 21 years at J2 Global®, where he served as its President from 2005 before becoming the company’s CEO in 2008. Previously, Hemi also served as COO, CMO and CFO of the company. Hemi has been integral in leading the growth of j2 Global from $105,000 of revenue in 1996, when he joined the start-up, to approximately $1 billion in the trailing four quarters ended June 30, 2017. Between 2001 and 2016, j2 Global’s stock price increased at over an impressive 40% CAGR. Today, j2 Global stands as one of the largest publicly traded technology companies based in Southern California, as well as, the global second most active strategic acquirer between 2014 and 2016, according to AGC Partners. Under Hemi’s leadership, j2 Global has completed over 155 acquisitions, helping the company expand into new markets, such as Cloud Services, Patent Licensing and Digital Media. Before that, he spent 16 years at Motorola in various divisions in finance and operations, participating in the consolidation of paging carriers via M&A, as well as pioneering the Cellular and Wireless Data Business as a service provider both in the US and Israel.

“OCV’s mission is to invest in technology oriented companies that can build long term value through differentiation, creativity and sound management. Hemi’s success in transforming j2 Global from a start-up into a leading global technology platform across unified communications, cloud services and digital media is a perfect complement to our firm’s mission,” said Mark Yung.

“Following my success at j2 Global®, I am excited for this next chapter of my career, with the goal of helping young companies grow into successful businesses. I look forward to joining OCV, where we will remain focused on creating value for OCV’s limited partners by investing in a new generation of companies.” said Hemi. “I look forward to working closely with Mark to leverage the team’s combined skills and partner with tomorrow’s market leading platforms.”

About OCV Management LLC
OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and Mark Yung in 2016. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of 19 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.