Speeding up expansion
Aledade is hitting the gas on its national expansion, with plans to open offices in New York, San Francisco and Durham, North Carolina, to go along with its Bethesda HQ and the Austin, Texas, office it inherited when it acquired Iris Healthcare in January. The primary care company has already added hundreds of employees this year and is planning to bring on about 300 more by year’s end. It’s all part of the fast-growing startup’s growth plan just a few weeks after it closed a $123M Series E funding round. Here’s more.
New fund on the block
Chevy Chase’s Enlightenment Capital has closed on its fourth fund after raising $540M — significantly oversubscribed above its $350M target and $500M hard cap. Its investors include pension funds, insurance firms, family offices and university endowments and foundations. And much like its previous funds, this one will focus on aerospace, defense, government and technology businesses. Here’s more.
IPO on deck
Shuttle Pharmaceuticals, which is developing treatments to make radiation more effective and less harmful for cancer patients, is looking to raise up to $15M in an IPO. It comes more than five years after the Rockville biotech first signaled its intent to go public, then tabled those plans. The company plans to use proceeds from the offering to support clinical trials for its lead drug candidate in glioblastoma and sarcoma, and another preclinical candidate in myeloma, lung and breast cancers. Here’s more.
D.C.’s Dcode has landed a $45M Department of Defense contract to provide tech advisory services, executive coaching and workforce training to any branch of the military. The goal: to help the federal government's largest agency modernize its technology and streamline processes. For the 7-year-old tech accelerator, the contract stands to spur a wave of hiring and more than double revenue this year. Here’s more.
D.C.’s Socially Determined has raised $26M in a Series B funding round led by the nearby Questa Capital. Existing investors LRVHealth, OSF Healthcare, Ziegler Link-Age Funds and HealthWorx, CareFirst BlueCross BlueShield’s investment arm, also participated. The company gives organizations data about the health and social risks in their communities, or the social determinants of health. And it announces the close of the round, which we first told you about earlier this month, while riding a wave of pandemic-driven growth. Here’s more.