Excoastal Issue 30

Columbus-bases Aver raises + two Toronto rounds, and more...

Welcome to Excoastal, a newsletter covering deals, startups, venture capital, and more from Chicago to Boulder, Detroit to Columbus, and beyond. I’m Evan Lonergan, a native Midwesterner. 

You can connect with me on Twitter @evanjlonergan, on Medium, and send deals/jobs/intel to evanlon92@gmail.com.

Whats New 

Excoastal Stats 📊
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ICYMI: the updated the Excoastal Investors Airtable sheet: 

Midwest Venture Capital Firms and Angels

Now to the good stuff…

Venture Capital Deals 

Columbus-based Aver, which provides bundled healthcare payment solutions has collected a $27 million Series C led by Cox Enterprises, with participation from Drive CapitalHeritage GroupHearst Ventures and NCT Ventures. The Columbus, Ohio-based business provides bundled healthcare payment solutions.

Essential Accessibility, a Toronto-based provider of web accessibility-as-a-service, raised C$16 million led by Lead Edge Capital. Axios

Xanadu, a Toronto-based quantum computing startup, raised $4.4 million (Canadian) from Sustainable Development Technology Canada.

Arpeggio Bio, a Boulder-based developer of RNA-profiling tech, raised $3.2 million seed funding from Khosla Ventures, FundersClub, Fifty Years, TechU, and YC. Axios

Health Scholars, a Westminster, CO-based provider of VR simulations for clinical healthcare training, raised $17 million from Arboretum Ventures, Venture Investors, Capital Midwest Fund, and OSF HealthCare. Axios

Denver-based Rebound Technologies, a maker of vapor alternative compression cooling systems that are, raised $5 million in Series A funding co-led by Clean Energy Ventures and Skyview Ventures and joined by Autodesk Foundation.

Private Equity Deals

AFV Partners acquired Aircraft Performance Group, a Castle Rock, CO-based provider of flight operations software to business and charter aviators, from Liberty Hall Capital Partners. Axios

Harvest Partners invested in MRI Software, a Solon, Ohio-based provider of real estate management software. Existing backers include TA Associates (which is reinvesting) and GI Partners. Axios


Anixter International, an Illinois-based provider of enterprise communications and security products, agreed to be acquired for $4.5 billion by Wesco Interational.

New Funds  

Columbus-based VC firm, Drive Capital, raised $300 million for its Overdrive Fund I.

Prime Movers Lab, a Jackson, Wyoming-based venture capital firm, raised around $100 million for its first early-stage fund, Prime Movers Lab Fund I.


No notable tech IPOs this week. 

What I’m Reading

State of Startups 2019

The Most American Startup Ever

Visa, Plaid, Networks, and Jobs

What to look for in LPs

Startup/VC Twitter

Podcast Addiction 

Casey Allen // building the Twin Cities enterprise SaaS community - Upside

Culture Break 

📚Read- A Walk in the Woods (one of Bill Bryson’s bests)

🎬Watch- Hustlers (if you want a fun crime drama) and The Last Black Man in San Francisco (if you’re looking for the opposite of a fun crime drama)


🧐Think- The Bizarre Bank Robbery That Shook an Arctic Town

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