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Ubiquity Ventures Closes $50+ Million Fund 2 to Enable Software Beyond the Screen Seed-Stage Companies to Grow and Scale
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MILWAUKEE, April 16, 2021 /PRNewswire/
PAXAFE, an AI and machine learning start-up transforming the way supply chain risk is calculated and underwritten, today announced a $2.25 million seed round of funding led by Ubiquity Ventures, bringing funds raised to date to over $3.2 million. The new capital will be used to accelerate the rollout of PAXAFE s commercial platform to more enterprise customers while strengthening their AI-driven prediction models.
PAXAFE has developed a contextualization platform that enables predictive routing, time of arrival and adverse event prediction for B2B shipments. While many providers offer some form of real-time visibility, PAXAFE goes further by providing customers with the contextualization they need to transform shipment visibility into actionable steps and measurable business value.
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That marked a 240x return on Bessemer s seed investment in Auth0.
The firm invested $1 million in the seed round and ultimately held a 20% stake in the company.
Former Bessemer investor Sunil Nagaraj was in the middle of making a presentation when he started receiving a flood of messages. I finished my presentation, glanced at my email, and I saw a bunch of congrats emails. My heart skipped a beat I said, Oh my God, what happened? Nagaraj told Insider. I looked at the news and my jaw hit the ground.