TechNation: Marius Nacht’s aMoon Nabs Its First $200 Million for Investment in Healthcare

LawGeex secures $12 million for automated contract approval ■ Applitools raises $31 million for applications-engineering technology

An employee works at a laptop computer at the Jerusalem Venture Partners JVP Media Labs, situated in the JVP Media Quarter in Jerusalem, Israel, on Wednesday, Oct. 21 , 2015.
Bloomberg

Marius Nacht’s aMoon nabs its first $200 million for investment in healthcare

aMoon II, the Israeli healthcare fund backed by Check Point Software co-founder Marius Nacht, said on Tuesday it had raised $200 million to invest in mid- and late-stage life science companies. With a target of $500 million and a hard cap of $750 million, the fund will focus on fields like digital health, medical technology and biopharma in Israel and other health tech hubs, said Yair Schindel, who formed aMoon II together with Nacht. The initial funding came from strategic and private investors and new money is expected to come from private investors and top financial institutions who have already expressed interest, Schindel said. Although his background is in cybersecurity, Nacht has in recent years invested heavily in healthcare. His previous fund, aMoon I, focused on the early stage, investing in 16 startups. By engaging more advanced companies this time, aMoon II said it expects less vulnerability and a shorter horizon to profitability. (Reuters)

Applitools raises $31 million for applications-engineering technology

Applitools, whose technology spots the differences between what apps and websites are supposed to do and what they actually do for users, said on Tuesday it had raised $31 million in new funding. The round was led by OpenView, an expansion-stage venture capital investor, joined by existing Applitools investors – Sierra Ventures, Magma Venture Partners, iAngels, and La Maison. The company said it would use the capital to expand research and development, operations and sales for its Applitools Eyes product. “We have no competition and the money will help us act on the situation,” said Chief Technology Officer Adam Carmi, who co-founded the company with CEO Gil Sever and Chief Operating Officer Moshe Milman. Since it was founded in 2013, Applitools has raised more than $46 million and counts Salesforce.com, Dropbox and Microsoft among its customers. It has 50 employees at its California headquarters and Tel Aviv R&D center. (Eliran Rubin)

LawGeex secures $12 million for automated contract approval

LawGeex, which uses artificial intelligence to automate the process of approving business contracts, said Tuesday it closed a $12 million funding round led by the Israeli venture capital fund Aleph. Previous investors, including Lool Ventures, also participated in this round. “Customers who once waited weeks to get a simple contract approved can now complete the entire review and approval process in under sixty minutes,” explained CEO Noory Bechor. In February the company released a study conducted in collaboration with academics at leading universities that found that LawGeex AI achieved an accuracy rate of 94% at spotting risks in everyday business contracts, while the 20 human lawyers participating achieved an average rate of 85%. It took 92 minutes for the lawyer participants to complete all five NDAs compared to only 26 seconds for the LawGeex AI. Founded in 2014 by Bechor and Chief Technology Officer Ilan Admon, LawGeex has raised $21.5 million to date. (Eliran Rubin)