Technology
CCSC Technology International Holdings Limited Reports Financial Results for Fiscal Year 2024
Published
2 years agoon
By
HONG KONG, July 22, 2024 /PRNewswire/ — CCSC Technology International Holdings Limited (the “Company” or “CCSC”) (Nasdaq: CCTG), a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products, including connectors, cables and wire harnesses, today announced its financial results for the fiscal year ended March 31, 2024.
Mr. Kung Lok Chiu, Chief Executive Officer and Director of the Company, commented, “We believe we have demonstrated resilience and adaptability throughout a challenging fiscal year 2024. Despite market fluctuations, we remain dedicated to innovation and excellence. We have worked to enhance our operational efficiencies and invested strategically in research and development to advance our product developments. Additionally, our Nasdaq listing in January 2024 marks a significant milestone for the Company, providing us with a platform for future growth. Furthermore, we entered into a strategic cooperation framework agreement with Innogetic International Limited (“Innogetic”) in May 2024. In the future, we anticipate exploring and applying digital technology such as artificial intelligence (“AI”) in the field of manufacturing to further advancements in our business. As we explore AI applications in the manufacturing sector in partnership with Innogetic, we endeavor to further the innovation and efficiency in our manufacturing process and enhance our position in the industry. Moreover, CCSC is planning to commence construction of a new European supply chain management center in the Republic of Serbia in second half of 2024. We believe that this strategic expansion, if and when it is established, will support our business by driving long-term growth.”
“We are committed to adopting advanced technologies, developing replicable and scalable solutions, and fostering innovative ideas and products. Looking forward, we are excited about our strategic initiatives aimed at market expansion, product innovation, and enhancing client services. We believe that our commitment to quality and customer satisfaction can drive us forward and create long-term value for our shareholders,” concluded Mr. Kung Lok Chiu.
Fiscal Year 2024 Financial Highlights
Revenue was $14.7 million for fiscal year 2024, compared to $24.1 million for fiscal year 2023.
Gross profit was $3.9 million for fiscal year 2024, compared to $7.9 million for fiscal year 2023.
Loss from operations was $1.8 million for fiscal year 2024, compared to income from operations of $1.8 million for fiscal year 2023.
Net loss was $1.3 million for fiscal year 2024, compared to net income of $2.2 million for fiscal year 2023.
Basic and diluted loss per share was $0.13 for fiscal year 2024, compared to basic and diluted earnings per share of $0.22 for fiscal year 2023.
Fiscal Year 2024 Financial Results
Revenue
Total revenue was $14.7 million for fiscal year 2024, which decreased by 38.7% from $24.1 million for fiscal year 2023.
The following table sets forth revenue by interconnect products:
For the years ended March 31,
Change
($ millions)
2024
%
2023
%
Amount
%
Cables and wire harnesses
13.6
92.4
%
22.2
92.3
%
(8.6)
(38.7)
%
Connectors
1.1
7.6
%
1.8
7.7
%
(0.7)
(39.3)
%
Total
14.7
100.0
%
24.0
100.0
%
(9.3)
(38.7)
%
Revenue generated from cables and wire harnesses decreased by 38.7%, to $13.6 million for fiscal year 2024, from $22.2 million for fiscal year 2023. Revenue generated from connectors decreased by 39.3%, to $1.1 million for fiscal year 2024, from $1.8 million for fiscal year 2023.
The decrease was primarily attributable to the decrease in the total sales volume due to customers’ shift towards zero inventory instead of advanced procurement, and the decrease of the average selling price of our products for fiscal year 2024.
The following table sets forth the disaggregation of revenue by regions:
For the years ended March 31,
Change
($ millions)
2024
%
2023
%
Amount
%
Europe
8.5
57.8
%
15.0
62.5
%
(6.5)
(43.3)
%
Asia
4.8
32.8
%
7.4
30.9
%
(2.6)
(34.9)
%
Americas
1.4
9.4
%
1.6
6.6
%
(0.2)
(12.4)
%
Total
14.7
100.0
%
24.0
100.0
%
(9.3)
(38.7)
%
Revenue generated from Europe decreased by 43.3%, to $8.5 million for fiscal year 2024, from $15.0 million for fiscal year 2023. The decrease was primarily due to the decrease of sales in Denmark, Hungary and Bulgaria, which was partially offset by the increase of sales in Italy.
Revenue generated from Asia decreased by 34.9%, to $4.8 million for fiscal year 2024, from $7.4 million for fiscal year 2023. The decrease was primarily due to sales decreases in China of $1.6 million, and sales decreases in the Association of Southeast Asian Nations, or ASEAN, of $1.0 million.
Revenue generated from the Americas decreased by 12.4%, to $1.4 million for fiscal year 2024, from $1.6 million for fiscal year 2023. The decrease was primarily due to the sales decrease in North America of $0.2 million.
Cost of Revenue
Cost of revenue decreased by 33.1%, to $10.8 million for fiscal year 2024, from $16.2 million for fiscal year 2023, which was in line with the decrease of total revenue.
Inventory costs amounted to $7.3 million for fiscal year 2024, compared to $12.1 million for fiscal year 2023. The decrease of inventory costs was primarily due to a 44.1% decrease in the total sales volume, which was partially offset by an 8.5% increase in the inventory cost per unit.
Labor costs amounted to $2.5 million for fiscal year 2024, compared to $2.9 million for fiscal year 2023. The decrease of labor costs was primarily because we reduced the number of manufacturing employees.
Gross Profit and Gross Margin
Gross profit decreased by 50.1%, to $3.9 million for fiscal year 2024, from $7.9 million for fiscal year 2023.
Gross profit margin decreased by 6.1%, to 26.6% for fiscal year 2024, from 32.7% for fiscal year 2023.
Operating Expenses
Operating expenses decreased by 5.1%, to $5.8 million for fiscal year 2024, from $6.1 million for fiscal year 2023. The expense reduction was mainly due to the decline in selling expenses and research and development expenses. The decrease was partially offset by the increase in the general and administrative expenses.
Other Income
Other income decreased to $0.5 million for fiscal year 2024, from $0.7 million for fiscal year 2023.
Net (Loss)/Income
Net income decreased by 158.7%, to net loss of $1.3 million for fiscal year 2024, from net income of $2.2 million for fiscal year 2023.
Basic and Diluted (Loss)/Earnings per Share
Basic and diluted loss per share was $0.13 for fiscal year 2024, compared to earnings per share of $0.22 for fiscal year 2023.
About CCSC Technology International Holdings Limited
CCSC Technology International Holdings Limited, is a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products. The Company specializes in customized interconnect products, including connectors, cables and wire harnesses that are used for a range of applications in a diversified set of industries, including industrial, automotive, robotics, medical equipment, computer, network and telecommunication, and consumer products. The Company produces both OEM (“original equipment manufacturer”) and ODM (“original design manufacture”) interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services (“EMS”) companies that procure and assemble products on behalf of such manufacturing companies. The Company has a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas. For more information, please visit the Company’s website: http://ir.ccsc-interconnect.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
CCSC Technology International Holdings Limited
Investor Relations Department
Email: ir@ccsc-interconnect.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED
CONSOLIDATED BALANCE SHEETS
(Amount in U.S. dollars, except for number of shares)
As of March 31,
2024
2023
Assets
Current assets:
Cash
$
5,525,430
$
7,708,310
Restricted cash
209,317
9,305
Accounts receivable
2,750,214
2,260,222
Inventories, net
2,023,456
2,187,518
Deferred initial public offering costs
–
1,051,038
Prepaid expenses and other current assets
1,474,405
814,308
Total current assets
11,982,822
14,030,701
Non-current assets:
Property, plant and equipment, net
198,901
211,949
Intangible asset, net
38,183
88,319
Operating right-of-use assets
1,659,297
2,121,070
Finance lease right-of-use asset
17,788
–
Deferred tax assets, net
287,394
41,015
Other non-current assets
3,753,646
41,844
Total non-current assets
5,955,209
2,504,197
TOTAL ASSETS
$
17,938,031
$
16,534,898
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable
$
2,175,974
$
1,663,749
Advance from customers
207,293
186,874
Accrued expenses and other current liabilities
1,523,843
1,648,970
Taxes payable
24,974
365,851
Operating lease liabilities, current
506,061
485,051
Finance lease liabilities, current
4,454
–
Long-term bank loan, current portion
–
39,725
Total current liabilities
4,442,599
4,390,220
Non-current liabilities:
Operating lease liabilities, non-current
1,184,056
1,653,411
Finance lease liabilities, non-current
13,709
–
Total non-current liabilities
1,197,765
1,653,411
TOTAL LIABILITIES
5,640,364
6,043,631
Commitments and Contingencies
–
–
Shareholders’ equity
Ordinary Shares (par value of US$0.0005 per share; 100,000,000 shares
authorized, 11,581,250 and 10,000,000 shares issued and outstanding as of
March 31, 2024 and 2023)
5,791
5,000
Subscription receivable
–
(5,000)
Additional paid-in capital
4,855,795
1,236,773
Statutory reserve
813,235
813,235
Retained earnings
8,491,783
9,786,946
Accumulated other comprehensive loss
(1,868,937)
(1,345,687)
Total shareholders’ equity
12,297,667
10,491,267
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$
17,938,031
$
16,534,898
CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)/INCOME
(Amount in U.S. dollars, except for number of shares)
For the years ended March 31,
2024
2023
2022
Net revenue
$
14,748,551
$
24,059,556
$
27,169,935
Cost of revenue
(10,825,943)
(16,190,985)
(19,694,031)
Gross profit
3,922,608
7,868,571
7,475,904
Operating expenses:
Selling expenses
(1,039,882)
(1,097,150)
(866,136)
General and administrative expenses
(4,134,394)
(3,898,894)
(3,318,815)
Research and development expenses
(594,521)
(1,084,119)
(829,024)
Total operating expenses
(5,768,797)
(6,080,163)
(5,013,975)
(Loss)/income from operations
(1,846,189)
1,788,408
2,461,929
Other (expenses)/income:
Other non-operating (expenses)/income, net
(35,509)
49,873
415,934
Government subsidy
7,255
62,627
17,910
Foreign currency exchange income/(loss)
425,308
562,527
(199,759)
Financial and interest income/(expenses), net
67,636
22,455
(7,028)
Total other income
464,690
697,482
227,057
(Loss)/income before income tax expense
(1,381,499)
2,485,890
2,688,986
Income tax benefit/(expense)
86,336
(277,738)
(399,828)
Net (loss)/income
(1,295,163)
2,208,152
2,289,158
Other comprehensive (loss)/income
Foreign currency translation adjustment
(523,250)
(728,399)
368,037
Total comprehensive (loss)/income
$
(1,818,413)
$
1,479,753
$
2,657,195
(Loss)/earnings per share
Basic and Diluted
$
(0.13)
$
0.22
$
0.23
Weighted average number of ordinary shares
Basic and Diluted
10,288,525
10,000,000
10,000,000
CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amount in U.S. dollars, except for number of shares)
For the years ended March 31,
2024
2023
2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)/income
$
(1,295,163)
$
2,208,152
$
2,289,158
Adjustments to reconcile net (loss)/income to net cash (used in)/provided
by operating activities:
Inventory write-down
188,268
369,512
117,807
Depreciation and amortization
238,757
221,106
330,269
Amortization of right-of-use asset
509,086
526,546
330,812
Losses/(gains) from disposal of fixed assets
2,188
5,621
(61,205)
Deferred tax (benefit)/expense
(249,892)
51,780
(17,927)
Foreign currency exchange (gains)/losses
(227,691)
(562,527)
199,759
Changes in operating assets and liabilities:
Accounts receivable
(500,747)
586,559
286,662
Inventories
(101,220)
2,028,980
(1,272,692)
Amount due from related parties
–
478,285
(51,421)
Prepaid expenses and other current assets
(704,610)
179,619
16,666
Operating right-of-use assets
–
(2,240,092)
62,343
Other non-current assets
(77,220)
41,314
19,310
Accounts payable
563,226
(2,054,385)
757,114
Advance from customers
22,060
113,383
(92,699)
Taxes payable
(340,992)
112,295
220,736
Accrued expenses and other current liabilities
(64,258)
(91,373)
117,673
Operating lease liabilities
(490,319)
1,704,248
(409,019)
Financing Lease liabilities
24
–
–
Amount due to related parties
–
(215,388)
78,270
Net cash (used in)/provided by operating activities
(2,528,503)
3,463,635
2,921,616
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment
(156,999)
(153,409)
(376,785)
Prepayment of long-term equipment and mold model
(3,639,312)
–
–
Proceed from disposal of property and equipment
–
10,891
199,146
Purchase of intangible asset
(29,476)
(64,364)
–
Net cash used in investing activities
(3,825,787)
(206,882)
(177,639)
CASH FLOWS FORM FINANCING ACTIVITIES
Proceeds from short-term bank loans
–
136,784
107,076
Repayments of short-term bank loans
–
(136,784)
(107,076)
Repayments of long-term bank loans
(39,853)
(156,174)
(153,053)
Proceeds from issuance of ordinary shares, net of issuance cost
of US$1.65 million
4,665,444
–
–
Payment for deferred initial public offering costs
–
(596,446)
(459,265)
Capital contribution by shareholder
5,000
–
462,469
Payment made for principal portion of financing lease liabilities
(4,322)
–
(7,553)
Net cash provided by/(used in) financing activities
4,626,269
(752,620)
(157,402)
Effect of exchange rate changes on cash and restricted cash
(254,847)
(72,458)
46,415
Net change in cash and restricted cash
(1,982,868)
2,431,675
2,632,990
Cash and restricted cash, beginning of the year
7,717,615
5,285,940
2,652,950
Cash and restricted cash, end of the year
$
5,734,747
$
7,717,615
$
5,285,940
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income tax
$
(859,882)
$
(119,679)
$
(471,259)
Cash received from income tax refund
$
–
$
126,413
$
461,418
Cash paid for interest
$
(228)
$
(4,986)
$
(8,650)
Cash paid for operating lease
$
(575,014)
$
(601,953)
$
(635,499)
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease obligations
$
137,617
$
2,263,898
$
138,450
View original content:https://www.prnewswire.com/news-releases/ccsc-technology-international-holdings-limited-reports-financial-results-for-fiscal-year-2024-302202911.html
SOURCE CCSC Technology International Holdings Limited
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BTQ provides strategic advisory support and QSSN as core PQC security infrastructure for the iM Bank initiative on the Kaia mainnet, advancing post-quantum migration across global financial infrastructure
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VANCOUVER, BC, May 6, 2026 /PRNewswire/ – BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ), a global quantum technology company focused on securing mission-critical networks, today announced that it it has been selected as the core PQC security technology provider through its Quantum Secure Stablecoin Settlement Network (“QSSN”) in a proof-of-concept with its Korean strategic partner, Finger Inc. (“Finger”), and iM Bank, a leading Korean commercial bank, for South Korea’s first bank-led Korean won stablecoin infrastructure incorporating post-quantum cryptography (“PQC”).
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Connect with BTQ: Website | LinkedIn | X/Twitter
ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.
The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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May 6, 2026By
WARSAW, Ind., May 6, 2026 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).
A live audio webcast can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.
About Zimmer Biomet
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.
With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation.
For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.
Contacts:
Media
Investors
Troy Kirkpatrick
David DeMartino
614-284-1926
646-531-6115
troy.kirkpatrick@zimmerbiomet.com
david.demartino@zimmerbiomet.com
Kirsten Fallon
Zach Weiner
781-779-5561
908-591-6955
View original content to download multimedia:https://www.prnewswire.com/news-releases/zimmer-biomet-to-present-at-the-bofa-securities-2026-health-care-conference-302763299.html
SOURCE Zimmer Biomet Holdings, Inc.
Technology
NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools
Published
12 hours agoon
May 6, 2026By
New senior hires from Google and The Collaborative Fund to lead product strategy and venture investing
Fund unveils first investment focus areas to catalyze new ‘Navigation Technology’ market, equipping Americans with cutting-edge tools to achieve economic security, opportunity and empowerment
ST. LOUIS, May 6, 2026 /PRNewswire/ — NextLadder Ventures, a new fund backed by more than $1 billion in capital, today announced its priority investment areas for building a new market for “Navigation Technology” (NavTech) — tools that provide Americans with personalized solutions to navigate life’s challenges and achieve greater economic mobility — and announced its co-founding team, including two new senior hires.
The fund’s active focus areas are based on extensive research identifying the key experiences and high-stakes decision points that have an outsized impact on American families’ economic mobility. Launched investment areas include financial health, career navigation, and benefits and social services access, with further exploration underway around housing, legal aid, justice and re-entry, and mental and physical health.
The organization is also today welcoming two senior leaders: Lauren Loktev is joining NextLadder as Managing Director of Investments and Brigitte Hoyer Gosselink as Managing Director of Product. Loktev was most recently a partner at the Collaborative Fund, where she backed several breakout companies in early child development, education, and sustainability. Gosselink comes to NextLadder from Google, where she led the company’s AI and social impact portfolio. They join a growing team which has deep expertise at the intersection of economic mobility, technology, public policy, and philanthropy.
NextLadder’s Focus Areas for Investment
Today, the fund is kicking off a plan to deploy $1 billion over the next seven years to accelerate the design, development, and deployment of accessible NavTech tools that aim to help families more successfully navigate the major life experiences that determine whether they get ahead or fall behind. As NextLadder’s inaugural frontier AI lab partner, Anthropic is supporting the build-out of the organization’s AI-native capabilities and is offering technical assistance to NextLadder’s portfolio organizations.
As an increasing proportion of Americans across income levels find themselves overextended and overwhelmed, NavTech tools are designed to help individuals and families understand their options, connect to information and resources, and take action to recover from a setback or take advantage of an opportunity and reclaim their economic futures.
“Life is getting harder, and too many Americans are stuck facing some of the most complex and consequential moments of their lives without much support,” said Ryan Rippel, CEO of NextLadder Ventures. “Every day, millions in this country face fork-in-the-road decisions that have major implications on whether they climb up the economic ladder or fall farther behind. AI has understandably intensified many Americans’ anxieties about their jobs and their security in the economy. But these technologies are now also making it possible to deliver highly personalized, affordable tools to meet the needs of tens of millions of Americans in a way that has never been practically achievable or financially viable before. With NavTech tools, built for the reality of families’ everyday experiences, we can empower Americans to overcome setbacks, navigate life’s toughest financial decisions, and build more secure futures.”
NavTech tools, built with the needs of individuals, families, and trusted community partners at the center of their design, have the potential to ease burdens most acutely faced by 90 million Americans who live in households that have difficulty in paying for usual home expenses, and turbocharge the capacity of the 1.6 million community workers in non-profit or local, state, and federal government roles who serve them. This growing category of digital technologies includes tools that help families access opportunities such as personalized financial advice and legal aid, get connected with available resources and programs, and manage unexpected hurdles like losing a job or facing an eviction – while freeing social workers and service providers to spend more time on people and less time on red tape and paperwork.
The fund’s active investment areas include:
Financial Health: Developing highly personalized, AI-powered financial health tools that can provide tailored, sustained counsel to help users build savings and protect and recover from financial shocks;
Career Navigation: Building tools to support career navigation, manage and support career transitions, and help workers, case managers, and employers identify pathways to living wage work — all designed to help people successfully find the right jobs for them.
Benefits & Social Services Access: Helping eligible Americans seamlessly identify and enroll in all the benefits and social services available to them, particularly those that support career navigation and transitions, help them navigate critical life moments, and achieve stability toward economic opportunity.
NextLadder is exploring additional focus areas, including housing, legal aid, justice and re-entry, caregiving, and mental and physical health. More on the organization’s vision of these focus areas is available HERE.
In addition to backing direct NavTech solutions, NextLadder is investing in the developers, partners, and standards required to build a durable, self-sustaining market. Across all focus areas, the fund is prioritizing efforts to ensure NavTech tools are reliable, protect users’ privacy, and are trusted by the families who depend on them.
NextLadder’s Co-Founder Leadership Team
NextLadder’s five co-founders will be CEO Ryan Rippel, Chief Strategy and Operations Officer Rhett Dornbach-Bender, Chief of Staff Callie Schwartz, and the two new senior hires: Managing Director of Investments Lauren Loktev and Managing Director of Product Brigitte Hoyer Gosselink, rounding out the fund’s expertise in investing, technology, and impact.
“We’re thrilled to welcome Lauren and Brigitte to the NextLadder team,” said Rippel. “Brigitte has spent her career proving that when applied purposefully, AI and technology can deliver meaningful benefits for communities, and she’ll set the bar for what NavTech tools can deliver for American families today and in the years to come. And with her deep experience backing mission-driven founders, Lauren is the perfect leader to build our venture practice from the ground up and accelerate the growth of the NavTech field. With this team in place, we’re positioned to make NavTech tools easier to build, fund, and access so they reach the people who need them most.”
Loktev brings 15 years of venture capital experience investing at the intersection of for-profit and for-good. Most recently at Collaborative Fund, she backed several companies to significant scale and launched Collab+Sesame, a first-of-its-kind thematic seed fund in partnership with Sesame Workshop focused on early childhood education. At NextLadder, she will build and lead the fund’s venture practice, sourcing and scaling investments in the founders building the next generation of NavTech tools.
“We have a once in a generation opportunity to help steer AI solutions toward those who need them most,” said Loktev. “Many amazing, accomplished founders see this too, and they are on a mission to build scalable, transformative businesses in the critical verticals that help people navigate life-changing moments. I couldn’t be more excited to join NextLadder and to support the most inspiring leaders building this market from the ground up. Thanks to our unique, long-term mandate, we can be creative and flexible in investing across stage and check size to partner with the entrepreneurs and leaders we believe will change the world.”
Prior to her role at NextLadder, Gosselink spent over a decade at Google in several roles including Director of AI and Social Impact, directing more than $500 million in funding for organizations applying AI to address challenges including crisis response, education, and economic opportunity. At NextLadder, she will lead AI and product strategy across the fund’s portfolio, backing solutions and setting market-wide standards for how NavTech tools are designed, evaluated, and improved over time.
“If we collectively harness the AI transformation strategically and purposefully, we can transform the way Americans are empowered to access greater economic mobility,” said Gosselink. “We believe that people-centered products, combined with shifts in the market and the services available to families, can fundamentally reshape how millions of Americans navigate critical moments and achieve prosperity on their own terms.”
To request interviews from the NextLadder Ventures leadership team, contact media@nextladder.com.
About NextLadder Ventures
NextLadder Ventures is a time-bound venture with one goal: empower millions of Americans to reach their potential by 2040. Backed by over $1 billion in capital, the organization invests in breakthrough technologies that remove barriers to economic success and put people in control of their futures. NextLadder Ventures is trailblazing a new market for tech-enabled Navigation Technology tools that help people access the resources they need to navigate pivotal moments — offering flexible, risk-tolerant capital to entrepreneurs building these transformative tools today, while creating a pipeline of tech, talent, and capital for the long run.
SOURCE NextLadder Ventures
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