March 30, 2020
The sobering realities of the current global health crisis and the resulting economic turmoil have all looking to help. We are proud to see the innovation and leadership by our portfolio companies during this trying time. From those who are stepping up to provide essential supplies, tests and therapies in the fight against coronavirus, to those who are adapting their business models to address today’s realities, these companies are the future. We highlight a few champions here:
Acivilate is one of many GovTech companies on the frontline working to advance its product quickly to help during the COVID-19 outbreak. The company’s Pokket app, which enables work to be done remotely, minimizing health risk to both staff and clients during the COVID-19 crisis, can now be launched within days, versus months.
LBU, a leading domestic manufacturer of promotional bags, is answering the call from the healthcare industry to produce different types of personal protective wear that can help prevent the spread of the virus. By producing these personal use masks, gowns and headwear their efforts free up the supply of the N95 masks for the people that need them most—those on the frontlines in the hospital treating people who have fallen ill.
PayIt is working swiftly to launch an interim online solution that will enable government agencies facing office closures with alternative ways to serve citizens while protecting the public workers. PayIt will extend the application to all agencies, whether contractual partners to the company or not.
Recursion is working with a local Salt Lake City laboratory using its extensive expertise in AI use for drug development to screen thousands of FDA-approved compounds with AI-enabled technology to understand their potential to fight against the COVID-19 virus.
Rheonix Inc. is on a fast track to repurpose its technology to roll out tests for the virus that can have results back in hours rather than days—allowing the medical community to quickly identify COVID-19 cases and ensure people are taking the proper precautions to help contain the spread.
Each of these companies is providing unique services during this trying time. We continue to hear compelling stories from our portfolio companies and others about how they are shifting gears, leveraging productive capabilities or alleviating pain points for the businesses and agencies they serve, all in an effort to help combat the coronavirus crisis.
We will continue to follow these stories and provide updates about how our portfolio companies are doing their part to help restore America and the world to health and vitality.
The investments, portfolio companies and recommendations listed on this website represent only a sample of companies that have received investment capital from Advantage Capital-related entities. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities highlighted herein or contained in any other information provided by Advantage Capital. Past performance is no guarantee of future results. For a full list of companies, please click here.
