Emerald Development Managers

Founded in 1994, Emerald Development Managers is a New York-based venture capital firm focusing on early-stage growth equity investments. They primarily invest in technology companies, with a focus on sectors such as life sciences, SaaS, biotech, healthcare IT, cleantech, industrial tech, enterprise software, cybersecurity, and sustainability.

Stephen Case

Managing Director

Neil Cohen

Investor

Charles Collins

Partner

Clara Estol

Associate

Thomas Gallo

Principal

Cy Schroeder

Senior Associate

Abbe Serphos

Operating Partner and Head of Communications

Yashil Sukurdeep

Investor

39 past transactions

Proscia

Series D in 2025
Proscia Inc., established in 2014 and headquartered in Philadelphia, Pennsylvania, specializes in digital pathology informatics through its innovative cloud-based platform. This platform aids in routine pathology operations, enhances cancer diagnosis, and seeks to improve patient outcomes. By leveraging advanced computing technologies, Proscia's solution unlocks hidden data that is not discernible to the human eye, transforming that information into valuable insights. These insights support physicians in accelerating the development of life-saving medical advances, ultimately contributing to a more effective diagnostic process in the field of pathology.

Uviquity

Venture Round in 2024
Uviquity develops semiconductor-based disinfection technology using proprietary photonic integrated circuits to eliminate pathogens such as viruses, bacteria, fungi, and mold spores. Their platform produces spectrally pure light that inactivates these microorganisms without the need for filters, enabling safe human exposure and integration into various applications.

Proscia

Series C in 2024
Proscia Inc., established in 2014 and headquartered in Philadelphia, Pennsylvania, specializes in digital pathology informatics through its innovative cloud-based platform. This platform aids in routine pathology operations, enhances cancer diagnosis, and seeks to improve patient outcomes. By leveraging advanced computing technologies, Proscia's solution unlocks hidden data that is not discernible to the human eye, transforming that information into valuable insights. These insights support physicians in accelerating the development of life-saving medical advances, ultimately contributing to a more effective diagnostic process in the field of pathology.

Cyware

Series C in 2023
Cyware provides cyber fusion solutions that help organizations detect and stop advanced cyberattacks by enabling a virtual cyber fusion center. Its platform combines an advanced threat intelligence platform, vendor-agnostic security automation, and security case management to support secure collaboration, information sharing, and enhanced threat visibility for enterprises, ISACs/ISAOs, MSSPs, and government agencies. The solution emphasizes all-source threat intelligence sharing and threat response automation, delivering automated, context-rich analysis for proactive defense while preserving human judgment.

Transcend Therapeutics

Series A in 2023
Transcend Therapeutics, Inc., established in 1992 in Waltham, Massachusetts, is a clinical-stage company focused on developing pharmaceuticals to address diseases associated with oxidative stress and tissue damage. The company also specializes in creating psychoactive medicines aimed at treating neuropsychiatric disorders. By targeting specific areas of the brain involved in the pathophysiology of these conditions, Transcend Therapeutics aims to enable healthcare providers to facilitate positive changes in brain function and behavior for their patients.

ETCH

Venture Round in 2022
ETCH is a decarbonization company that develops and commercializes a proprietary chemical process. This process splits natural gas into hydrogen and solid carbon, generating low-cost hydrogen and producing pure, storable carbon with minimal environmental impact. The process can be powered by natural gas, hydrogen, or electricity, and it requires no water or produces no waste, making it scalable and portable. ETCH aims to help businesses transition to a clean energy future by reducing their carbon footprint.

Evolved By Nature

Series C in 2022
Evolved By Nature, Inc. is a biotech company that specializes in the development and manufacturing of chemicals derived from silk protein, specifically through its patented Activated Silk technology. Founded in 2013 and based in Medford, Massachusetts, the company aims to create sustainable silk molecules that reduce reliance on harmful chemicals while enhancing the performance of existing materials. Evolved By Nature produces a variety of products for use in fabrics, personal care, and medical applications, focusing on skincare solutions that offer anti-aging benefits without synthetic fillers or harsh preservatives. The company's innovative approach utilizes pure silk in liquid form, created from discarded silkworm cocoons, showcasing a commitment to environmental sustainability and health.

CybSafe

Series B in 2022
CybSafe is a cloud-based platform that educates users on cybersecurity best practices via a mobile and web app. It uses data-driven insights from SebDB, the world's most comprehensive security behavior database, to provide real-time, tailored assistance and improve security behaviors within organizations.

Proscia

Series C in 2022
Proscia Inc., established in 2014 and headquartered in Philadelphia, Pennsylvania, specializes in digital pathology informatics through its innovative cloud-based platform. This platform aids in routine pathology operations, enhances cancer diagnosis, and seeks to improve patient outcomes. By leveraging advanced computing technologies, Proscia's solution unlocks hidden data that is not discernible to the human eye, transforming that information into valuable insights. These insights support physicians in accelerating the development of life-saving medical advances, ultimately contributing to a more effective diagnostic process in the field of pathology.

Torigen Pharmaceuticals

Venture Round in 2022
Founded in 2013, Torigen Pharmaceuticals specializes in developing innovative cancer care solutions for pets. Based in Farmington, Connecticut, the company focuses on advancing scientific research to bring novel approaches to companion animal cancers.

WATT Fuel Cell Corporation

Venture Round in 2022
Founded in 2010, WATT Fuel Cell Corporation specializes in developing and manufacturing solid oxide fuel cell (SOFC) stacks and systems. These operate on readily available fuels like propane, natural gas, JP-8, and diesel to manage renewable power sources. The company offers hybrid SOFC systems that combine hydrocarbon fuels with solar or wind technologies for optimized power output, energy storage, and fuel consumption. WATT serves marine and RV, emergency response, military, and remote power sectors.

TrueFort

Series B in 2021
TrueFort specializes in real-time application and cloud workload protection. Founded in 2015, the company offers solutions such as application-first security, out-of-box analytics for applications, and bring-your-own-agent capabilities. Its flagship product, Fortress, employs advanced behavioral analysis and automation to enhance security across diverse environments.

Babson Diagnostics

Series B in 2021
Babson Diagnostics, Inc. is a healthcare technology company based in Austin, Texas, focused on revolutionizing diagnostic blood testing by providing lab-quality results in retail settings such as pharmacies and grocery stores. Established in 2017, the company has developed an innovative device that collects blood samples from finger capillaries, requiring only a small volume—just one-tenth of that needed for traditional venipuncture methods. This approach allows for accurate diagnostic results to be obtained quickly, enhancing accessibility to essential health information for consumers. The samples are analyzed at CLIA-certified clinical laboratories, ensuring the reliability and quality of the testing process.

Cyware

Series B in 2021
Cyware provides cyber fusion solutions that help organizations detect and stop advanced cyberattacks by enabling a virtual cyber fusion center. Its platform combines an advanced threat intelligence platform, vendor-agnostic security automation, and security case management to support secure collaboration, information sharing, and enhanced threat visibility for enterprises, ISACs/ISAOs, MSSPs, and government agencies. The solution emphasizes all-source threat intelligence sharing and threat response automation, delivering automated, context-rich analysis for proactive defense while preserving human judgment.

Sunflower Therapeutics

Venture Round in 2021
Sunflower Therapeutics is a biotechnology company specializing in next-generation protein manufacturing solutions. It aims to enhance global patient access to biological medicines by developing and implementing advanced technologies that benefit worldwide populations. The company employs strain engineering, integrated process development, and automated multi-product facilities to create efficient and scalable production methods.

TBT Pharma

Seed Round in 2020
Founded in 2019, TBT Pharma is a Baltimore-based dermatology company specializing in repurposing generic compounds for treating multiple skin conditions. Its patented products focus on topical applications to manage inflammatory skin disorders.

Cyware

Series A in 2020
Cyware provides cyber fusion solutions that help organizations detect and stop advanced cyberattacks by enabling a virtual cyber fusion center. Its platform combines an advanced threat intelligence platform, vendor-agnostic security automation, and security case management to support secure collaboration, information sharing, and enhanced threat visibility for enterprises, ISACs/ISAOs, MSSPs, and government agencies. The solution emphasizes all-source threat intelligence sharing and threat response automation, delivering automated, context-rich analysis for proactive defense while preserving human judgment.

Baton

Series A in 2020
Baton Technologies, Inc. is a New York-based company that specializes in business software automation. Founded in 2018, it offers a software-as-a-service platform designed to streamline and manage the software implementation process for clients. Baton aims to enhance the post-sales implementation experience by providing tools that facilitate organization and communication, particularly through the use of email, spreadsheets, and regular updates. As an early-stage startup, Baton focuses on improving efficiency in the implementation phase, allowing customers to navigate the complexities of software deployment more effectively.

Lifesprout

Series A in 2020
LifeSprout is developing the next generation of synthetic soft tissue substitutes for aesthetic and reconstructive medicine. They offer revolutionary products for aesthetic and regenerative medicine. They have created a platform that looks and behaves like the body’s own tissues. The company is turning this into a suite of products for millions of patients each year with soft tissue losses from aging, cancer, and metabolic disease.

Axis Security

Series A in 2020
Axis Security Inc. is a cybersecurity company founded in 2018 and based in Palo Alto, California. It specializes in Zero Trust Network Access solutions, providing a cloud security platform that ensures secure remote access to applications. The company's technology focuses on application isolation and employs a context-aware approach to security, evaluating multiple factors to ensure that only authorized users can access specific resources within a network. This business-centric strategy allows organizations to maintain control over sensitive information and manage access for employees, partners, and other stakeholders effectively.

READY Robotics

Series B in 2020
Founded in 2016, READY Robotics is headquartered in Columbus, Ohio. The company specializes in developing ForgeOS, an industrial operating system for robotics and automation. This patented technology enables manufacturers to deploy and manage robots efficiently using a standardized set of low-code apps, particularly beneficial for high-mix/low-volume manufacturing.

Cyware

Seed Round in 2019
Cyware provides cyber fusion solutions that help organizations detect and stop advanced cyberattacks by enabling a virtual cyber fusion center. Its platform combines an advanced threat intelligence platform, vendor-agnostic security automation, and security case management to support secure collaboration, information sharing, and enhanced threat visibility for enterprises, ISACs/ISAOs, MSSPs, and government agencies. The solution emphasizes all-source threat intelligence sharing and threat response automation, delivering automated, context-rich analysis for proactive defense while preserving human judgment.

Capital Rx

Series A in 2019
Founded in 2017, Capital Rx operates as a pharmacy benefit manager, overseeing self-insured prescription plans for employers, unions, and government entities. Its platform improves administrative workflows, clinical oversight, claim processing, and coordination between patients and providers by managing prescription drug claims on behalf of users and their plan sponsors.

TrueFort

Series A in 2019
TrueFort specializes in real-time application and cloud workload protection. Founded in 2015, the company offers solutions such as application-first security, out-of-box analytics for applications, and bring-your-own-agent capabilities. Its flagship product, Fortress, employs advanced behavioral analysis and automation to enhance security across diverse environments.

Vixiar

Series A in 2019
Vixiar Medical, established in 2013 and headquartered in Annapolis, Maryland, specializes in developing non-invasive, cost-effective devices and systems for monitoring cardiopulmonary diseases. Its flagship product, Indicor, is a handheld point-of-care device and digital platform designed to monitor and manage worsening heart failure. Vixiar's devices aim to enhance clinical workflow and deliver economic value to the healthcare system by enabling monitoring in various settings, including homes, offices, nursing homes, and hospitals.

Torigen Pharmaceuticals

Series A in 2019
Founded in 2013, Torigen Pharmaceuticals specializes in developing innovative cancer care solutions for pets. Based in Farmington, Connecticut, the company focuses on advancing scientific research to bring novel approaches to companion animal cancers.

Proscia

Series A in 2018
Proscia Inc., established in 2014 and headquartered in Philadelphia, Pennsylvania, specializes in digital pathology informatics through its innovative cloud-based platform. This platform aids in routine pathology operations, enhances cancer diagnosis, and seeks to improve patient outcomes. By leveraging advanced computing technologies, Proscia's solution unlocks hidden data that is not discernible to the human eye, transforming that information into valuable insights. These insights support physicians in accelerating the development of life-saving medical advances, ultimately contributing to a more effective diagnostic process in the field of pathology.

WATT Fuel Cell Corporation

Venture Round in 2018
Founded in 2010, WATT Fuel Cell Corporation specializes in developing and manufacturing solid oxide fuel cell (SOFC) stacks and systems. These operate on readily available fuels like propane, natural gas, JP-8, and diesel to manage renewable power sources. The company offers hybrid SOFC systems that combine hydrocarbon fuels with solar or wind technologies for optimized power output, energy storage, and fuel consumption. WATT serves marine and RV, emergency response, military, and remote power sectors.

SafeBreach

Series B in 2018
SafeBreach Inc. is a cybersecurity company that specializes in breach and attack simulation (BAS). Founded in 2014 and headquartered in Sunnyvale, California, with an additional office in Tel Aviv, Israel, SafeBreach offers a platform designed to enhance an organization's security posture by simulating real-world attack methods. The platform utilizes a comprehensive Hacker's Playbook, which includes a range of breach techniques derived from actual cyber incidents, to proactively identify vulnerabilities within an enterprise's network, cloud, and endpoints. By mimicking the tactics of cybercriminals, SafeBreach enables businesses to validate their security controls and improve the responsiveness of their security operations center (SOC) analysts. The platform can integrate with various security information and event management systems, ticketing solutions, and automation tools, providing continuous visibility into potential security threats and allowing organizations to address issues before they can be exploited by attackers.

AppliedEA

Venture Round in 2018
AppliedEA is a company focused on enhancing the reliability and efficiency of mobile machines through advanced industrial software. By utilizing Condition-Based Maintenance (CBM) methodology, the company monitors and analyzes autonomous mobile machines in real-time. Its software integrates big data and machine learning technologies to track critical performance metrics, addressing high failure rates and significant maintenance expenses associated with both manned and autonomous systems. This innovative approach enables aviation companies to improve operational reliability, reduce liability, and lower maintenance costs, particularly for unmanned aerial vehicles.

Sustained Nano Systems

Venture Round in 2017
Sustained Nano Systems is a biotechnology company specializing in innovative drug delivery technologies. The company focuses on short and long-term micro-dosing methods that target cells for various therapeutic applications. By leveraging its expertise in small particle behavior, Sustained Nano Systems develops delivery systems that include both injectable and implant formats. This technology is particularly valuable in treating chronic disease states where repetitive dosing is necessary, allowing healthcare providers to administer both existing and emerging drug technologies more effectively. The company's approach aims to enhance patient care by improving the administration of medications.

READY Robotics

Seed Round in 2016
Founded in 2016, READY Robotics is headquartered in Columbus, Ohio. The company specializes in developing ForgeOS, an industrial operating system for robotics and automation. This patented technology enables manufacturers to deploy and manage robots efficiently using a standardized set of low-code apps, particularly beneficial for high-mix/low-volume manufacturing.

GreenSight

Seed Round in 2016
GreenSight develops a commercial drone platform for autonomous data collection. Its full-stack product combines custom hardware, software, advanced sensors, and data analytics to provide actionable insights in agriculture, energy, construction, and infrastructure sectors. The company initially focused on the golf course industry, offering daily agricultural analytics services and labor management solutions.

Proscia

Seed Round in 2016
Proscia Inc., established in 2014 and headquartered in Philadelphia, Pennsylvania, specializes in digital pathology informatics through its innovative cloud-based platform. This platform aids in routine pathology operations, enhances cancer diagnosis, and seeks to improve patient outcomes. By leveraging advanced computing technologies, Proscia's solution unlocks hidden data that is not discernible to the human eye, transforming that information into valuable insights. These insights support physicians in accelerating the development of life-saving medical advances, ultimately contributing to a more effective diagnostic process in the field of pathology.

Socure

Series A in 2015
Socure develops digital identity verification solutions using artificial intelligence and machine learning. Its platform authenticates identities in real-time from various online/offline sources, automating customer identification program (CIP), know your customer (KYC), and anti-money laundering (AML) compliance initiatives.

DriverUp

Series A in 2015
DriverUp Corp. is an online marketplace based in Austin, Texas, that facilitates direct participation in the automotive financing market for investors. Founded in 2012 and formerly known as Sierra Holdings LLC, the company offers an application portal designed to streamline the automotive financing process for both car dealers and buyers. Utilizing proprietary technology, the platform integrates advanced data analytics to enable efficient processing of auto loans, providing users with clear financing terms and the ability to secure purchases online. DriverUp is notable for being the first platform that allows accredited investors, including hedge funds, family offices, and high-net-worth individuals, to invest directly in high-yield auto lending with full transparency and reporting.

Intellihot

Venture Round in 2015
Intellihot is a manufacturer of tankless water heater systems for both residential and commercial applications. Established in 2005, the company emerged from the founder's experience with a traditional water heater malfunction. Intellihot's innovative designs, which have several patents pending, focus on conserving space and eliminating the need for bulky storage tanks. The systems are equipped with advanced connectivity features, including Wi-Fi and 3G/4G capabilities, allowing users to connect to a router or internet hub. This connectivity enables the analysis of water usage patterns, providing clients with on-demand water heating solutions that are both efficient and space-saving.

Una Software

Una Software develops a financial planning and analysis platform that integrates with customer relationship management systems. Its platform offers real-time sales data, AI-driven insights, forecasting, and reporting tools to enhance revenue planning accuracy, align go-to-market strategies, and drive growth for finance teams.

Uviquity

Uviquity develops semiconductor-based disinfection technology using proprietary photonic integrated circuits to eliminate pathogens such as viruses, bacteria, fungi, and mold spores. Their platform produces spectrally pure light that inactivates these microorganisms without the need for filters, enabling safe human exposure and integration into various applications.
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