Portfolia is pleased to announce its first return to investors with the acquisition of OtoSense, an artificial intelligence company for sound, by Analog Devices.
Portfolia launched the Rising Tide Fund in late 2015, in partnership with Next Wave Impact Ventures. The fund invested in the company's Series A round in Spring 2016. The company's acquisition will deliver a more than 2X return in two years for Rising Tide Fund investors, an impressive result under traditional venture capital and angel investing models.
OtoSense offers the world's first software that makes sense of sounds with the ability to act upon real world events in real time, making the world a smarter and safer place. The enterprise software company's sound recognition technology is groundbreaking, offering a range of real-life applications that shape and improve lives. It is an incredible example of top solutions emerging in the marketplace.
CEO Sebastien Christian founded OtoSense in 2013 after working with the hearing-impaired for more than a decade. They later expanded the technology's applications to include public safety.
"We have been so fortunate to have Portfolia as investors in OtoSense," Christian said. "It's been a pleasure working with Bethann Kassman and the fund's other lead investors, and their experience as investors has been an incredible resource. We're excited for the acquisition and to share this with all of Portfolia's members."
Portfolia is a community of sophisticated women who invest together through focused venture funds, backing early-stage companies they believe in. Its unique model combines the experience of angel investing with the diversification of venture capital. Since August 2015, the company has fully invested five funds and recently launched its sixth, the Portfolia FemTech Fund.
Trish Costello, Portfolia CEO and Managing Director of The Rising Tide Fund said, "Portfolia Funds represent an entirely new venture model that activates a huge, untapped group of investors — sophisticated women — who have the capacity to be highly successful in the venture world. OtoSense reflects the caliber of companies we back in the marketplace. It's an incredible time."
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