CureBay raises 100 crore rupees in Pre-Series C round led by IvyCap Ventures

Coast has secured $35 million in new equity funding to scale its financial platform designed for companies operating in the 'physical economy.' Thomvest Ventures led the funding round.

Existing investors participated in the round, including ICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid Ventures, Vintage Investment Partners, Colle Capital, Synchrony, RXR, and The Fintech Fund. The New York-based fintech company announced plans to use the capital to grow its customer base.

The funds will be directed towards developing AI-driven expense automation, as well as expanding Bill Pay and Accounts Payable offerings. These steps support Coast's goal of becoming a more comprehensive financial operating system.

Founder and CEO Daniel Simon noted that many service-sector businesses still lack financial tools tailored to their specific operations. Companies in the physical economy often manage expenses related to employees, job sites, suppliers, and vehicles, but standard banking products and corporate cards rarely provide the necessary level of control for such transactions.

Furthermore, there is a growing need for skilled tradespeople. For instance, data shows that HVAC engineer vacancies have increased by nearly 78% since 2022, and demand for electricians, welders, and construction specialists has risen by 30%. Coast initially started by issuing fuel cards for business parks.

Over time, the company expanded its services to include corporate cards, expense management, and supplier payments. Its platform serves industries such as construction, HVAC, plumbing, landscaping, pest control, solar energy, oil and gas, utilities, and others, and it can integrate with accounting systems.

The new funding will be used for investments in AI-powered expense automation. Coast will also expand its Bill Pay and Accounts Payable features to collect supplier invoices concurrently with card transactions, giving business owners a more complete view of expenses.

Financial teams will be able to use a single platform to manage employee expenses, supplier invoices, and accounting processes. Coast collaborates with companies providing fleet and field service management technologies. Through integrations with Samsara and Fleetio, operators can track vehicle locations, driver IDs, and odometer readings. This data helps identify unusual purchases; for example, the system can flag fuel transactions that do not match the vehicle's location. Operators can also deactivate cards without leaving the existing fleet management software, and the company directs drivers toward more efficient purchasing options.

This latest funding allows Coast to extend its offering beyond just fuel and parking payments. The planned products aim to consolidate procurement, supplier payments, expense control, and accounting workflows. The company did not disclose its valuation in the announcement.

Participation from Intuit Ventures may also help strengthen ties with financial software used by small businesses. Coast's integration strategy focuses on embedding within existing operational systems rather than requiring customers to replace them. Competition remains a significant challenge. While Coast's focus on field operations gives it a clear market, sustained growth will depend on the adoption and execution of its plans. The newest funding will help determine the pace of customer base expansion and delivery of planned products.

North.cloud has successfully raised $60 million in a Series B funding round. These funds will be used to develop the company's financial operating system, which covers cloud services, artificial intelligence, and data handling.

Investors participating in this round include Peak Span Capital, Liquidity Ventures, Companyon Ventures, Alpaca, Uncommon Denominator, Gaingels, and Mana Ventures. The secured capital will allow for increased investment in product development, as well as ensuring a higher degree of automation and adding new integrations.

North enables enterprises to reduce infrastructure costs across all leading cloud service providers and modern data platforms, including Microsoft Azure, Google Cloud, and AWS. The company aims to replace fragmented processes related to various pricing models, usage requirements, and reporting tools inherent in each system (whether it is cloud infrastructure, a data model, or a service).

Thanks to the North platform, clients have saved over $400 million against total managed cloud spending, which approaches two billion dollars. Among the company's clients are AssemblyAI, Atlan, Tines, SnapLogic, Emplifi, and Imply. The platform addresses a growing problem for finance and engineering departments.

Traditionally, teams often use spreadsheets and separate dashboards to understand infrastructure costs, which consumes significant time without automatically eliminating costly inefficiencies. North combines cost analytics with automated optimization, helping businesses identify waste, manage cloud commitments, and increase computing value. This approach provides finance and engineering teams with a unified view of infrastructure economics.

The latest funding followed the release of North v3, which expanded support to Microsoft Azure, thus completing support for three major hyperscalers. Furthermore, native integrations with OpenAI, Anthropic, and Snowflake were implemented, and the Autobot automatic commitment scaling mechanism was enhanced.

Artificial intelligence is creating new challenges in business financial management. The increasing use of models adds an extra layer of complexity to existing cloud service and data expenditures. North is expanding its platform to help companies manage these interconnected costs.

TokenFlow's offering integrates model usage, attribution, budgeting, and financial control into a single system. Businesses can use these features alongside existing cloud infrastructure management, reflecting the growing overlap between AI and traditional infrastructure costs.

North believes that effective cost management requires more than just dashboards for companies. Automated systems can help teams detect changes, improve resource allocation, and leverage optimization capabilities, which can reduce manual workload as AI adoption accelerates.

AssemblyAI reported an effective savings rate of about 50% through its work with North. The company noted that its coverage expanded in parallel with infrastructure growth, allowing the team to focus on customer-centric development.

North plans to reinvest the Series B funds into increasing the number of integrations and strengthening autonomous optimization. Funds will also be invested in additional AI cost management tools and new personnel hiring. These investments will help North realize its vision of fully automating the infrastructure cost lifecycle.

The company demonstrates a customer retention rate of 98.8% and reports over $400 million saved by its clients. North's current clientele includes several large technology companies, and the company believes its results can be leveraged to target other cost categories. As AI plays an increasingly vital role in software development, infrastructure costs are becoming less separate from the product and the business it supports. North is building a platform designed to help such enterprises manage these expenses without stifling innovation.