Moderne Ventures Announces 2024 Spring Passport Class
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CHICAGO, April 16, 2024 ~ Moderne Ventures, a strategic venture capital and growth equity firm, has announced the selection of eleven companies for its exclusive Passport industry immersion program. The program, which runs for six months, aims to provide education, exposure, insight, and relationships to drive customer growth for technology companies in and around the industries of real estate, finance, insurance and sustainability.

Founder and Managing Partner at Moderne Ventures, Constance Freedman, shared that the company takes a generalist approach to vertical investing by looking outside of their core industries for technologies that can be applicable within them. This latest Passport cohort includes technology innovators in areas such as predictive analytics, artificial intelligence, sustainability, government policy, pet insurance and last-mile delivery. Freedman expressed excitement about helping these companies gain exposure and grow their customer base within Moderne's industries.

The selected companies range from seed to Series C stages and have collectively raised over $678 million in funding with a total valuation of $1.3 billion to date. The eleven companies chosen for the Spring Passport Class are Abodu (abodu.com), Acreto (acreto.io), Companion Protect (companionprotect.com), Dimension (getdimension.com), FluidLytix (fluidlytix.com), Polco (polco.us), Proof (proof.com), Public Grid (onepublicgrid.com), Qloo (qloo.com), RealSage (realsage.com) and The Rounds (therounds.co).

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Abodu is a company based in Redwood City, CA that transforms backyard space into livable homes for multi-generational households, aging in place, full-time rentals and more with beautifully designed accessory dwelling units. Acreto from Jersey City, NJ offers an enterprise-grade cybersecurity platform that identifies, connects and protects any technology anywhere. Companion Protect from Leawood, KS provides pet insurance and wellness plan administration trusted by property and casualty insurers.

Dimension is a San Francisco, CA based company that offers a fully digital platform for waste and recycling management, reducing carbon emissions. FluidLytix from Dallas, TX provides intelligent water management that can reduce water bills by up to 30%. Polco, headquartered in Madison, WI, modernizes interactions between constituents and governments through its platform that empowers constituents to engage with governments and helps governments make informed decisions based on constituent input.

Proof (formerly known as Notarize) is a pioneer in remote online notarization with the largest network of professional notaries in all 50 states. The company, based in Boston, MA, offers notarization and identity verification services to secure the digital economy. Public Grid from Cambridge, MA is a smarter, green energy management platform that saves residential consumers money on electricity bills and reduces greenhouse gas emissions.

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Qloo from New York, NY uses advanced AI technology to understand and predict global consumer tastes. This allows for advanced personalization, improved customer experiences and data-driven marketing and growth strategies for companies. RealSage from Toronto, ON offers an AI-driven decision support system for asset owners and operators by consolidating data across the asset lifecycle from existing technologies to provide actionable insights and improve NOI.

The Rounds from Brooklyn, NY provides automated "inventory management" of recurring household essentials through its two-way last mile logistics network. The company uses reusable packaging to maximize delivery efficiency and reduce waste.

Carolyn Kwon, Moderne Ventures' Passport Director shared that this is their 19th Passport class and they have now brought more than 125 companies through the program. She also mentioned that Moderne Ventures becomes an extension of the companies' business development teams by helping them refine their go-to-market strategies and open up new distribution channels across multi-trillion dollar verticals of real estate, finance, insurance and sustainability through their Moderne Network of 1500+ partners.

Moderne Ventures accepts Passport applications on a rolling basis and the next class is set to launch in July. With its successful track record and commitment to helping technology companies grow, the Moderne Passport Program continues to be a highly sought-after opportunity for emerging businesses in the real estate, finance, insurance and sustainability industries.
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