Startup Mave raises $34 million to expand AI-powered cybersecurity platform

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.

Mach9 has successfully raised $34 million in a Series A funding round to expand its artificial intelligence-based civil engineering software. The round was led by First Round Capital and Bessemer Venture Partners, with participation from existing investor Quiet Capital.

The San Francisco-based company develops automated design software used in topographic surveys and infrastructure projects. Its technology converts three-dimensional scans into digital blueprints for engineering teams, and Mach9 claims its software can perform this task ten times faster and at one-fifth the cost.

The company originated from a hardware-focused startup founded in 2021. Co-founder and CEO Alex Baykovitz initially aimed to improve visual inspection technologies, but client interactions revealed a more significant problem.

A large portion of America's infrastructure is nearing the end of its service life. Roads, utility poles, and power lines require replacement or maintenance. The Infrastructure Investment and Jobs Act allocated $1.2 trillion for these purposes.

Accurate reports on the current condition of assets prevent costly rework and allow engineers to plan changes. Surveys capturing the real state are used to gather this data using increasingly sophisticated tools. The manual process of overlaying these scans onto engineering drawings takes weeks or even months.

Mach9 handles a significant part of this work. Clients provide the platform with 3D scans of roads, construction sites, and utility networks. The platform's artificial intelligence detects physical objects such as curbs, signposts, poles, lane markings, and wires. The software then generates initial blueprints with a claimed accuracy of up to a centimeter.

Mach9's clients include civil engineering firms, transportation agencies, and infrastructure operators. Among the company's clients are WSP, HNTB, and NV5. Public sector users include Caltrans, the Minnesota Department of Transportation, and the Maryland State Highway Administration.

In San Diego, Caltrans uses Mach9 to inventory road safety features along Interstate 8. This work involves mapping noise barriers and identifying improvement opportunities. Accurate inventories help engineers assess road conditions and plan maintenance.

In San Francisco, the company Kier + Wright uses the platform to support pedestrian safety near schools. Meanwhile, Fibersmith from Louisiana uses this technology to plan broadband infrastructure, aiming to connect 125,000 homes and businesses.

Mach9's application extends beyond transportation projects. The same core technology can help document utility and telecommunications networks, opening up opportunities for the company across all infrastructure sectors facing complex surveying requirements.

First Round Capital partner Bill Trenchard described the software as a way to transform physical infrastructure into actionable information. The firm believes that such tools can modernize methods of surveying, designing, and maintaining infrastructure.

Mach9 plans to use the raised capital to enhance its software and expand its team. The company also intends to strengthen its capabilities for serving civil engineering and topographic clients. The long-term goal is to improve the transition process of infrastructure projects from data collection to design.

The market still presents significant challenges. Engineering drawings require high precision, and AI-generated results need thorough verification. Professional users must be confident that automated results meet project requirements. Furthermore, Mach9 competes with established CAD software providers, and adoption will depend on the effective integration of its tools into existing workflows. Demonstrating consistent accuracy across various conditions will be crucial.

Sirona Medical has raised $40 million in a Series D funding round. The round was led by Avidity Partners, with participation from investors including 8VC, Great Point Ventures, KLT Holdings, and several others.

Sirona stated that the funds secured will provide long-term stability for the company. The company plans to accelerate the implementation of its cloud-based radiology operating system, RadOS. This platform integrates image archives, diagnostic data viewing, report generation, task lists, and AI for workflows.

Since its public launch in November 2023, Sirona has expanded its presence in hundreds of integrated institutions. The company currently has dozens of contracted clients and over 12 million annual image studies under contract. Next year, Sirona intends to onboard more than 1,000 radiologists.

RadOS, developed by Sirona itself, is designed to simplify the consolidation of disparate radiology practices into a single cloud environment. The system allows specialists to view images, manage task lists, and generate reports within one workflow, as well as integrate artificial intelligence tools into clinical scenarios.

The company believes this network will benefit radiology service providers. Improved workflows can help practices cope with the growing volume of imaging while simultaneously addressing staffing challenges. Sirona's commercial rollout demonstrates increasing adoption of its solutions by clients.

The average annual revenue per new contracted client over the last twelve months was $1.07 million, and the average total contract value for a new client during the same period reached $5.10 million. More than half of Sirona's clients are already utilizing the RadOS infrastructure.

The funding will also support the commercialization of Sirona Cortex—the company's agentic AI orchestration layer. Cortex is designed to expand automation in radiology workflows, and its commercial launch is a key part of Sirona's next growth phase.

Furthermore, Sirona is expanding its client services organization. Anders Osterholm, who brings 25 years of experience from Sectra, has joined the company to lead this organization. New offices in Berlington, Vermont, and Cincinnati, Ohio, will provide implementation support and 24/7 customer service.

The company also plans to launch Sirona Global by the end of 2026. This program will expand its commercial and operational presence outside the United States. Target markets include the UK, the European Union, South Africa, New Zealand, and Australia.

Sirona's latest funding round reflects investor confidence in its cloud approach to radiology. The company aims to help providers manage growing demand for imaging through unified, AI-powered software and workflows. They will also assist in strengthening implementation and support capabilities as the user base grows.

Founder and President Cameron Andrews stated that the funding will enable Sirona to realize its vision globally. CEO Ken Kaufman also emphasized plans to implement RadOS in a greater number of practices, hospitals, and healthcare systems.

The company will also publish a series of materials titled 'Built on Sirona.' This series will feature customer case studies and technical explanations of the RadOS architecture. This series aims to demonstrate how radiology service providers use the platform to solve operational challenges.