Emerald Development Managers

Emerald Development Managers is a venture capital firm based in New York, specializing in early-stage growth equity investments. Established in 1994, the firm leverages extensive relationships with academic institutions, operating managers, and other investors to identify promising opportunities. Emerald focuses on sectors such as health technology, biopharma, cybersecurity, enterprise software, industrial, and cleantech. Beyond providing capital, the firm emphasizes a hands-on approach, offering mentorship and expertise to foster the growth of its portfolio companies. This commitment to delivering not only financial support but also strategic guidance has positioned Emerald as a significant player in the venture capital landscape.

Stephen Case

Managing Director

Neil Cohen

Founder and Chairman

Charles Collins

Managing Director

Thomas Gallo

Principal

CY Schroeder

Principal

Abbe Serphos

Operating Partner and Head of Communications

30 past transactions

Evolved By Nature

Series C in 2022
Evolved By Nature is a biotech company that focuses on creating Activated Silk technology. It is a platform of sustainable silk molecules that reduces reliance on problematic chemicals, builds better supply chains, and vastly increases the performance potential of existing materials to advance the health of people and the planet. Evolved by Nature, based in Boston, was started by biomedical engineer Rebecca Lacouture and chemist Gregory Altman in 2013. Their product is pure silk in liquid form, a regenerative technology made from discarded silkworm cocoons. The company has patented dozens of molecular combinations of the natural silk protein since filing its first application in 2014.

CybSafe

Series B in 2022
CybSafe is cyber security software that educates, nudges, and provides real-time, tailored cyber assistance to users via a mobile and web app. The platform for behavioral security and data analytics assists people in making better security decisions and improving their security behavior. It also provides metrics for security behavior, culture, and risk reporting, allowing organizations to anticipate security issues. CybSafe is built on a data-driven model of human behavior and makes use of SebDB, the world's most comprehensive security behavior database.

Proscia

Series C in 2022
Proscia develops a digital pathology platform to assist routine pathology operations, enhance cancer diagnosis, and improve patient outcomes. Its platform utilizes computing technologies that unlock hidden data not visible to the human eye and turns that data into valuable insights to help physicians accelerate the development of life-saving advances.

Torigen Pharmaceuticals

Venture Round in 2022
Torigen Pharmaceuticals focuses on providing cancer care solutions for animals. They strive to bring novel approaches to the market to tackle companion animal cancers, building on years of existing scientific research and pushing the boundaries of innovation. The company was founded in 2013 by Ashley Kalinauskas and Mark Suckow and is based in Farmington, Connecticut, United States.

Watt Fuel Cell

Venture Round in 2022
WATT Fuel Cell Corporation is a developer and manufacturer of Solid Oxide Fuel Cell (SOFC) components and systems that can operate on readily available hydrocarbon fuels such as natural gas, propane, JP-8, and diesel. WATT’s fuel cell technology is a quiet, light, efficient, affordable, and environmentally responsible energy solution to a range of power markets. The company's products are based on a common expandable module, a building block that enables WATT to address multiple markets with minimal additional development cost. Analogous to a blade server type module, where additional performance can be obtained by adding blades, applications requiring more power are addressed by simply adding more modules.

TrueFort

Series B in 2021
TrueFort powers zero trust application environments with Fortress, the only real-time, behavior based, cloud-to-ground security platform. Fortress leverages advanced behavioral analysis, machine intelligence and automation to reduce excessive trust and related risks, addressing multiple security challenges in a single unified platform with agents you have already deployed.

Babson Diagnostics

Series B in 2021
Babson Diagnostics is an operator of a healthcare technology company dedicated to bringing diagnostic blood testing to the retail pharmacy counter. The company develops a model for the blood test that requires only one-tenth of the sample size of traditional venipuncture methods, that enable consumers to get laboratory-grade bloodwork done within a short wait time.

Cyware

Series B in 2021
Cyware provides cyber fusion solutions to help businesses detect and stop advanced cyberattacks. Cyware offers the technology organizations need to build a virtual cyber fusion center. With separate but integrated solutions including an advanced threat intel platform (TIP), vendor-agnostic security automation (SOAR), and security case management, organizations can increase speed and accuracy while reducing costs and analyst burnout. Cyware's virtual cyber fusion solutions make secure collaboration, information sharing, and enhanced threat visibility a reality for enterprises, sharing communities (ISAC/ISAO), MSSPs, and government agencies of all sizes and needs.

TBT Pharma

Seed Round in 2020
TBT Pharma is a dermatology startup re-purposing generic and off-patent compounds. The company has 4 main patented products that can be used to treat multiple skin conditions. TBT Pharma, Inc was founded in 2019 by Ian Tolfree and is headquartered in Baltimore, Maryland.

Cyware

Series A in 2020
Cyware provides cyber fusion solutions to help businesses detect and stop advanced cyberattacks. Cyware offers the technology organizations need to build a virtual cyber fusion center. With separate but integrated solutions including an advanced threat intel platform (TIP), vendor-agnostic security automation (SOAR), and security case management, organizations can increase speed and accuracy while reducing costs and analyst burnout. Cyware's virtual cyber fusion solutions make secure collaboration, information sharing, and enhanced threat visibility a reality for enterprises, sharing communities (ISAC/ISAO), MSSPs, and government agencies of all sizes and needs.

Baton

Series A in 2020
Baton is an early-stage startup that wants to help customers organize the post-sales implementation process. The company was founded in 2015 and is based in New York, United States.

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 is a cybersecurity company that specializes in providing Zero Trust Network Access solutions. The company's platform focuses on secure remote access to applications, aiming to ensure that only authorized users can access specific resources within a network. It utilizes a context-aware approach to security, which evaluates various factors before granting access, enhancing overall data protection.

READY Robotics

Series B in 2020
READY Robotics builds ForgeOS: the industrial operating system for robotics and automation. Based on patented technology, ForgeOS enables manufacturers to deploy and manage robots and automation systems with a standardized set of low-code apps. Perfect for the type of high-mix/low-volume manufacturing that has historically been challenging to automate. READY Robotics was founded on 2016 and is headquartered in Columbus, Ohio.

Cyware

Seed Round in 2019
Cyware provides cyber fusion solutions to help businesses detect and stop advanced cyberattacks. Cyware offers the technology organizations need to build a virtual cyber fusion center. With separate but integrated solutions including an advanced threat intel platform (TIP), vendor-agnostic security automation (SOAR), and security case management, organizations can increase speed and accuracy while reducing costs and analyst burnout. Cyware's virtual cyber fusion solutions make secure collaboration, information sharing, and enhanced threat visibility a reality for enterprises, sharing communities (ISAC/ISAO), MSSPs, and government agencies of all sizes and needs.

Capital Rx

Series A in 2019
Capital Rx is a health technology company that engages in managing pharmacy benefit plans. The company is redefining the way prescriptions are priced and administered in the U.S. Through its Clearinghouse Model, it unlocks the pharmacy supply chain and reduces prescription costs for employer groups. By establishing a competitive marketplace for drug pricing, Capital Rx focuses its resources on deploying actionable strategies that improve plan performance and patient outcomes.

TrueFort

Series A in 2019
TrueFort powers zero trust application environments with Fortress, the only real-time, behavior based, cloud-to-ground security platform. Fortress leverages advanced behavioral analysis, machine intelligence and automation to reduce excessive trust and related risks, addressing multiple security challenges in a single unified platform with agents you have already deployed.

Vixiar Medical

Series A in 2019
Vixiar Medical develops non-invasive, cost-effective devices, and systems for monitoring cardiopulmonary diseases, particularly those with a significant clinical and economic burden. The Company’s first product, Indicor, is a handheld point of care device and digital platform for monitoring worsening heart failure.

Torigen Pharmaceuticals

Series A in 2019
Torigen Pharmaceuticals focuses on providing cancer care solutions for animals. They strive to bring novel approaches to the market to tackle companion animal cancers, building on years of existing scientific research and pushing the boundaries of innovation. The company was founded in 2013 by Ashley Kalinauskas and Mark Suckow and is based in Farmington, Connecticut, United States.

Proscia

Series A in 2018
Proscia develops a digital pathology platform to assist routine pathology operations, enhance cancer diagnosis, and improve patient outcomes. Its platform utilizes computing technologies that unlock hidden data not visible to the human eye and turns that data into valuable insights to help physicians accelerate the development of life-saving advances.

Watt Fuel Cell

Venture Round in 2018
WATT Fuel Cell Corporation is a developer and manufacturer of Solid Oxide Fuel Cell (SOFC) components and systems that can operate on readily available hydrocarbon fuels such as natural gas, propane, JP-8, and diesel. WATT’s fuel cell technology is a quiet, light, efficient, affordable, and environmentally responsible energy solution to a range of power markets. The company's products are based on a common expandable module, a building block that enables WATT to address multiple markets with minimal additional development cost. Analogous to a blade server type module, where additional performance can be obtained by adding blades, applications requiring more power are addressed by simply adding more modules.

SafeBreach

Series B in 2018
SafeBreach is a pioneer in the emerging category of breach and attack simulation. The company's groundbreaking platform provides a “hacker's view” of an enterprise’s security posture to proactively predict attacks, validate security controls and improve SOC analyst response. SafeBreach automatically executes breach methods with an extensive and growing Hacker’s Playbook of research and real-world investigative data. SafeBreach is funded by Sequoia Capital, Deutsche Telekom Capital, Hewlett Packard Pathfinder and investor Shlomo Kramer.

AppliedEA

Venture Round in 2018
AppliedEA aims to increase reliability, reduce liability, and minimize maintenance costs by applying the proven Condition-Based Maintenance (CBM) methodology to Mobile Machines.

Sustained Nano Systems

Venture Round in 2017
Sustained Nano Systems is a biotechnology company. They offer a flagship technology of short and long-term micro dosing for targeting the cell for several therapeutic purposes. Their drug delivery includes injectable and implant formats.

READY Robotics

Seed Round in 2016
READY Robotics builds ForgeOS: the industrial operating system for robotics and automation. Based on patented technology, ForgeOS enables manufacturers to deploy and manage robots and automation systems with a standardized set of low-code apps. Perfect for the type of high-mix/low-volume manufacturing that has historically been challenging to automate. READY Robotics was founded on 2016 and is headquartered in Columbus, Ohio.

GreenSight

Seed Round in 2016
GreenSight is developing the second generation commercial drone platform. The company's full stack product is an enterprise platform that enables flying autonomous robots at scale. Through a mix of custom hardware and software the platform allows businesses in enterprise and government to get daily low altitude aerial intelligence with zero labor. They combine autonomy, advanced sensors, and data analytics to deliver land managers actionable alerts in agriculture, energy, construction and infrastructure. GreenSight has built and tested its technology providing daily agricultural analytics services to the golf course industry. GreenSight has built a complete digital management solution for golf courses which includes labor management, agronomy planning and aerial intelligence. In golf, the technology can save the industry over $1B annually by reducing water consumption allowing them to save on the costs to buy and pump the 752B gallons of water they use each year. They can save them hundreds of millions more on fungicides, pesticides, and fertilizer while improving course quality and improving staff efficiency.

Proscia

Seed Round in 2016
Proscia develops a digital pathology platform to assist routine pathology operations, enhance cancer diagnosis, and improve patient outcomes. Its platform utilizes computing technologies that unlock hidden data not visible to the human eye and turns that data into valuable insights to help physicians accelerate the development of life-saving advances.

Socure

Series A in 2015
Socure provides artificial intelligence for digital identity verification, fraud prevention, and sanction screening.

DriverUp

Series A in 2015
DriverUp is an online marketplace that offers automotive financing services. The platform utilizes proprietary technology to create a direct-to-investor option for its users. Integrated with software and advanced data analytics, the marketplace enables efficient processing and direct investment in auto loans, with full transparency and reporting. It is also the first mechanism that offers accredited investors such as hedge funds, family offices, and high net-worth individuals an opportunity to participate directly in high-yield auto lending. Launched in 2012, the marketplace is operated from Dallas, Texas.

Intellihot

Venture Round in 2015
Intellihot manufactures tankless water heater systems for residential and commercial applications. The system developed after several years of extensive research and development has been recognized for its innovative design and has several patents pending. The company traces its humble beginnings to winter of 2005 when a traditional water heater broke down and flooded the basement of the founder.
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