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Venture Capital
FINANCE | Investment Firms & Funds
refactor.com

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Investments

67

Portfolio Exits

5

Funds

10

About Refactor Capital

Refactor Capital, launched by David Lee and Zal Bilimoria, is a seed-stage venture capital firm.

Refactor Capital Headquarter Location

330 Primrose Road Suite 201

Burlingame, California, 94010,

United States

650-843-5000

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Latest Refactor Capital News

Ness Raises $15.5M in Seed Funding

May 11, 2022

Ness , a New York-based fintech company building credit cards limiting the cost of wellcare, raised $15.5M in Seed funding. The round was led by Will Ventures with participation from Core Innovation Capital, Accomplice, Digitalis, GFC, Portage Ventures, Refactor Capital, RiverPark, and Atypical. The company intends to use the funds to grow the product, team, userbase, and commitment to credit and compliance. Founded by Derek Flanzraich, Ness is a fintech company that offers credit cards to reduce the cost of wellcare. The Ness Rewards App allows consumers to earn points for the spending they’re already doing on their health. Eventually, all “healthy actions”—from fitness activity to physician visits—will be rewarded. Today, consumers can redeem these points for offers at wellness brands like Sweetgreen, Thrive Market, Barry’s Bootcamp, and more. In addition to this funding, Ness is also announcing the acquisition of WellSet’s 4,000-person nationwide network of practitioners. Next, the company is launching a suite of credit cards to accelerate those rewards and give cardholders exclusive access to benefits from their favorite health and wellness brands. Ness plans to even offer medical benefits, supplemental insurance, and comprehensive health insurance on top of its credit cards to reward consumers for living healthy with more healthy living, shift their spend for the better, and reduce the cost of wellcare for all. The founding team also includes:  Christina Gerdes (Co Founder & Chief Medical Officer),  Katherine Lynch (Co Founder & Head of Business Operations), and Kenneth So (Co Founder & Chief Experience Officer) among others FinSMEs 11/05/2022

Refactor Capital Investments

67 Investments

Refactor Capital has made 67 investments. Their latest investment was in Evernow as part of their Series A on April 4, 2022.

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Refactor Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/6/2022

Series A

Evernow

$28.5M

Yes

4

3/9/2022

Series B - II

Mori

$50M

No

7

1/31/2022

Seed VC

Ness

$15.5M

Yes

2

1/19/2022

Series A

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$99M

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10

12/15/2021

Series B

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$99M

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10

Date

4/6/2022

3/9/2022

1/31/2022

1/19/2022

12/15/2021

Round

Series A

Series B - II

Seed VC

Series A

Series B

Company

Evernow

Mori

Ness

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Amount

$28.5M

$50M

$15.5M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

4

7

2

10

10

Refactor Capital Portfolio Exits

5 Portfolio Exits

Refactor Capital has 5 portfolio exits. Their latest portfolio exit was FactoryFour on November 15, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/15/2021

Acquired

$99M

1

6/23/2021

Acquired

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$99M

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10

1/8/2021

Acquired

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$99M

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10

1/7/2021

Reverse Merger

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$99M

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10

1/6/2021

Acquired

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$99M

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10

Date

11/15/2021

6/23/2021

1/8/2021

1/7/2021

1/6/2021

Exit

Acquired

Acquired

Acquired

Reverse Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Refactor Capital Fund History

10 Fund Histories

Refactor Capital has 10 funds, including Refactor Capital III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/3/2021

Refactor Capital III

$50M

1

4/21/2020

Refactor Sugar

$2.51M

1

4/2/2020

Refactor Ivy

$3.15M

1

10/18/2019

Refactor Capital II

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$99M

10

8/14/2019

Refactor Apogee

$99M

10

Closing Date

6/3/2021

4/21/2020

4/2/2020

10/18/2019

8/14/2019

Fund

Refactor Capital III

Refactor Sugar

Refactor Ivy

Refactor Capital II

Refactor Apogee

Fund Type

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Status

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Amount

$50M

$2.51M

$3.15M

$99M

$99M

Sources

1

1

1

10

10

Refactor Capital Team

2 Team Members

Refactor Capital has 2 team members, including current Founding Partner, Zal Bilimoria.

Name

Work History

Title

Status

Zal Bilimoria

Founding Partner

Current

David Lee

Founding Partner

Current

Name

Zal Bilimoria

David Lee

Work History

Title

Founding Partner

Founding Partner

Status

Current

Current

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