Technology
Vuzix Reports 4Q and Full Year 2024 Financial Results
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1 year agoon
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ROCHESTER, N.Y., March 13, 2025 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI) (“Vuzix” or the “Company”), a leading supplier of AI-driven smart glasses, waveguides and Augmented Reality (AR) technologies, today reported its fourth quarter and full year financial results for the year ended December 31, 2024.
“In 2024, the AI and AR smart glasses market continued to evolve, and Vuzix made major advancements in product innovation, technology, customer engagement, and strategic partnerships,” said Paul Travers, President and CEO of Vuzix. “Our partnership with Quanta Computer, involving their staged $20 million investment in our stock and a joint supply and sale arrangement, was particularly noteworthy.”
“Regarding our see-through waveguides for AI/AR smart glasses, we expanded our production capacity and transitioned to new key equipment, significantly enhancing our scalability. Additionally, we achieved several critical breakthroughs in our waveguide designs, including reduced forward eye glow and seamless prescription lens integration—both vital for enterprise and consumer adoption. With these advancements in our waveguide technologies and volume manufacturing capabilities, we are now strategically positioned to play a significant role in the AI/AR-driven smart glasses market, which is anticipated to become a high unit volume opportunity with end-user demand exceeding multiple billions of dollars,” stated Mr. Travers.
“Operationally, we lowered our annual cash operating expenses by approximately $8 million or 25% in 2024 versus 2023, through workforce realignments, operational efficiencies, and a focused approach to R&D investments. Financially, we bolstered our balance sheet via Quanta’s $10 million initial tranche investment and an $8.2 million capital raise in the fourth quarter of 2024 via our at-the-market facility.”
“While the adoption of smart glasses in our target markets has been slower than anticipated, the outlook for mainstream adoption remains promising. With new strategic partnerships, a growing ODM/OEM opportunity pipeline, and increasing customer demand driven by AI-powered smart glasses, we believe these markets are gaining momentum. As 2025 progresses, Vuzix remains well-positioned to leverage the market growth surrounding AI-powered smart glasses and AR technology to drive innovation in wearable technology,” stated Mr. Travers.
The following table compares condensed elements of the Company’s summarized Consolidated Statements of Operations data for the fourth quarters and years ended December 31, 2024 and 2023, respectively. Readers should refer to Vuzix’ Form 10-K for the year ended December 31, 2024 for additional information as well as disclosure of important risk factors:
Three Months Ended
December 31
(unaudited – in 000s)
Twelve Months Ended
December 31
(audited – in 000s)
2024
2023
2024
2023
Sales:
Sales of Products
$
1,069
$
722
$
4,487
$
10,760
Sales of Engineering Services
204
295
1,267
1,369
Total Sales
1,272
1,067
5,755
12,129
Cost of Products and Eng. Services
2,058
1,439
7,186
10,406
Inventory Obsolescence
4,168
3,873
4,168
4,358
Gross (Loss)
(4,953)
(4,245)
(5,600)
(2,635)
Operating Expenses:
Research and Development
2,220
3,521
9,626
12,340
Selling and Marketing
1,946
4,830
8,191
12,712
General and Administrative
4,289
4,733
17,230
18,592
Depreciation and Amortization
425
948
2,995
3,844
Loss on Goodwill and Other Intangible Asset Impairment
–
2,137
–
2,137
Loss on Fixed Asset Disposal
16
–
28
–
Impairment on Intangible Asset and Equity Investment
–
–
30,301
–
Impairment of Patents and Trademarks
–
–
–
42
Loss from Operations
(13,850)
(20,415)
(73,971)
(52,302)
Total Other Income (Expense)
193
534
433
2,152
Net Loss
$
(13,656)
$
(19,881)
$
(73,538)
$
(50,149)
Loss per Share
$
(0.16)
$
(0.32)
$
(1.08)
$
(0.79)
Fourth Quarter 2024 Financial Results
For the three months ended December 31, 2024, we reported $1.3 million in total revenues as compared to $1.1 million in the prior year’s comparable fourth quarter. The revenue increase was primarily due to higher unit sales of our M400 smart glasses.
For the fourth quarter ended December 31, 2024, the net loss was $13.7 million or $0.16 per share as compared to a loss of $19.9 million or $0.32 per share for the fourth quarter of 2023.
Full Year 2024 Financial Results
For the full year ended December 31, 2024, total revenues were $5.8 million, as compared to $12.1 million in 2023. The decrease in revenues for the year was due to lower unit sales of M400 smart glasses versus the 2023 year, when two major distributors placed significant stocking orders representing 54% of 2023 total product revenues or approximately $5.8 million. Sales of engineering services revenues recognized for the year ended December 31, 2024, were modestly lower at $1.3 million as compared to $1.4 million in the same period of 2023.
There was an overall gross loss of $5.6 million for the full year ended December 31, 2024 as compared to overall loss of $2.6 million for the same period in 2023. Included in Total Cost of Sales for 2024 were inventory obsolescence provisions totaling $4.2 million, as compared to provisions of $4.4 million for the 2023 year.
Research and Development expense was $9.6 million for the year ended December 31, 2024 as compared to $12.3 million for the comparable 2023 period, a decrease of 22% largely due to a $1.6 million reduction in salary and benefits related expenses due to headcount decreases and a $1.0 million reduction in external development costs.
Selling and Marketing expense was $8.2 million for the year ended December 31, 2024 as compared to $12.7 million for the comparable 2023 period, a $4.5 million or 36% decrease. The reduction was largely due to a $1.6 million decrease in advertising and tradeshow expenses and a $1.6 million decline in salary and benefits related expenses driven by headcount decreases.
General and Administrative expense was $17.2 million for the full year ended December 31, 2024 as compared to $18.6 million for the comparable 2023 period, a decrease of 7%. The decrease was due to a $1.4 million decrease in non-cash stock-based compensation expense.
The net loss for the full year ending December 31, 2024 was $73.6 million or $1.08 cents per share versus a net loss of $50.1 million or $0.79 for the same period in 2023.
Net cash flows used in operating activities for 2024 was $23.7 million as compared to the prior year’s total of $26.3 million.
As of December 31, 2023, the Company maintained cash and cash equivalents of $18.2 million and an overall working capital position of $24.6 million.
Management Outlook
“We ended 2024 with $18.2 million in cash and are confident in our capital resources to execute upon our operating plan,” said Mr. Travers. “In 2025, our focus is on converting recent customer wins into long-term recurring revenue. We expect multiple design wins for ODM/OEM products including consumer and enterprise items, where Vuzix will supply optical waveguides and display engines or create co-branded products. In defense, we aim to grow our business with new prime defense contractors, leading to custom designs and an acceleration of production orders.”
“We are experiencing growing enterprise customer successes, supported by substantial data sets demonstrating productivity improvements that significantly surpass customer benchmarks. Our wholly owned subsidiary, Moviynt®, and their Mobilium® platform, are attracting growing interest in this context. We are confident that with anticipated follow-on orders for smart glasses this year, we have the potential to deplete our existing smart glasses inventory and convert those finished goods into cash. This will facilitate a smoother introduction of our next-generation, purpose-built products,” concluded Mr. Travers.
Conference Call Information
Date: Monday, March 13, 2025
Time: 4:30 p.m. Eastern Time (ET)
Dial-in Number for U.S. & Canadian Callers: 877-709-8150
Dial-in Number for International Callers (Outside of the U.S. & Canada): 201-689-8354
A live and archived webcast of the conference call will be available on the investor relations page of the Company’s website at: https://ir.vuzix.com/ or directly at https://event.choruscall.com/mediaframe/webcast.html?webcastid=d9mFAUVy
Participating on the call will be Vuzix’ Chief Executive Officer and President Paul Travers and Chief Financial Officer Grant Russell, who together will discuss business, operational and financial highlights for the fourth quarter and full year ended December 31, 2024.
To join the live conference call, please dial into the above referenced telephone numbers five to ten minutes prior to the scheduled conference call time.
A telephonic replay will be available for 30 days, starting on March 13, 2025, at approximately 5:30 p.m. (ET). To access this replay, please dial 877-660-6853 within the U.S. or Canada, or 201-612-7415 for international callers. The conference replay ID# is 13752093.
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of AI-driven smart glasses, waveguides and augmented reality (AR) technology, for the enterprise, medical, defense and consumer markets. The Company’s products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 425 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan. For more information, visit the Vuzix website, Twitter and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to, among other things, the timing of new product releases, R&D project successes, smart glass pilot to roll-out conversion rates, future operating results, Atomistic MicroLED development, capabilities, and further development timelines, and the Company’s leadership in the Smart Glasses and AR display industry. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the Company’s Annual Reports and other filings with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Investor Relations Contact
Ed McGregor, Director of Investor Relations
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation
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BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept
Published
12 hours agoon
May 6, 2026By
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
BTQ has been selected as the core post-quantum cryptography security technology provider for South Korea’s first bank-led KRW stablecoin proof-of-concept, delivering its Quantum Secure Stablecoin Settlement Network (“QSSN”) for the initiative.
BTQ is providing strategic advisory support and helping coordinate implementation across the partnership with iM Bank and Finger, supporting the integration of post-quantum protections into regulated digital money infrastructure.
Built on the Kaia mainnet, the proof-of-concept is connected to the blockchain ecosystems originally developed by Kakao and LINE, linking the initiative to two of the largest messaging and digital platform ecosystems in Korea and Japan.
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”).
The proof-of-concept represents more than a technical pilot. It marks an important step in bringing next-generation quantum security into banking infrastructure within Korea’s regulated financial system. In addition to providing QSSN as the core PQC security framework, BTQ is contributing consulting and strategic coordination across the three-way partnership, helping align the project’s security architecture, implementation approach, and long-term post-quantum migration objectives.
“Post-quantum migration requires more than a cryptographic upgrade. It requires coordination across infrastructure, implementation, and institutional stakeholders,” said Olivier Roussy Newton, Chief Executive Officer of BTQ Technologies. “In this initiative, BTQ is providing both strategic advisory support and QSSN as the post-quantum security architecture, while helping lead coordination across the three-way partnership. We believe this proof-of-concept demonstrates how financial institutions can begin integrating quantum-resilient protections into digital money systems in a practical and operationally viable way.”
South Korea’s First Bank-Led PQC Stablecoin Infrastructure Initiative
BTQ is working alongside iM Bank and Finger on a three-way initiative to validate the issuance and distribution infrastructure for a Korean won stablecoin. In addition to supplying QSSN as the PQC security layer, BTQ is providing consulting support and helping to guide coordination across the partnership as the parties evaluate how to integrate post-quantum protections into bank-led digital asset infrastructure.
The proof-of-concept will validate several key components, including real-time reconciliation between bank reserves and blockchain-issued supply, a global-standard smart contract architecture, connectivity to global infrastructure for overseas distribution, and the integration of a PQC-based dual-signature security structure. By applying BTQ’s PQC signature architecture alongside the existing ECDSA cryptographic framework, the system is designed to preserve operational continuity for financial institutions while proactively addressing future quantum computing threats.
Built on Kaia Mainnet
A notable feature of the proof-of-concept is that it will be implemented on the Kaia mainnet, one of Korea’s leading Layer 1 blockchain networks. Kaia was created through the merger of Klaytn, the blockchain originally developed by Kakao, and Finschia, the blockchain associated with LINE. Kakao and LINE sit at the center of two of the largest messaging and digital platform ecosystems in Korea and Japan, respectively, making Kaia a significant piece of regional digital infrastructure.
Klaytn previously participated in the Bank of Korea’s CBDC pilot ecosystem, and the Bank of Korea has continued to advance CBDC testing through initiatives such as Project Hangang.
By combining BTQ’s PQC technology with blockchain infrastructure tied to the Kakao and LINE ecosystems, the proof-of-concept is intended to establish a model that aligns institutional-grade security, blockchain scalability, and evolving regulatory requirements for digital money infrastructure.
QSSN as the Security Layer
The PQC security foundation for the initiative is BTQ’s Quantum Secure Stablecoin Settlement Network, or QSSN, a quantum-secure network architecture designed for stablecoin, tokenized deposit, payment, and digital asset infrastructure. QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions, by integrating PQC-based signatures while maintaining existing user experience and operational workflows.
BTQ has previously announced that QSSN was highlighted in the U.S. Post-Quantum Financial Infrastructure Framework (“PQFIF”) as a model architecture for post-quantum digital money infrastructure. The Company has also positioned QSSN as a standards-oriented initiative advanced through QuINSA and aligned with emerging post-quantum financial infrastructure requirements.
Addressing the Harvest-Now, Decrypt-Later Risk
The timing of the proof-of-concept reflects the growing urgency surrounding the “Harvest-Now, Decrypt-Later” risk, in which attackers may collect encrypted financial data today and decrypt it later once sufficiently advanced quantum capabilities emerge. Global institutions are already accelerating post-quantum migration. The U.S. National Institute of Standards and Technology (“NIST”) has finalized its first set of post-quantum cryptography standards, including ML-DSA, ML-KEM, and SLH-DSA, while major technology companies and financial institutions continue to define their own post-quantum transition timelines.
BTQ’s QSSN addresses this challenge through a dual-signature design that allows existing ECDSA-based infrastructure to operate in parallel with NIST-aligned PQC signatures such as ML-DSA. This approach enables banks and payment infrastructure providers to begin a phased transition toward quantum-safe security without disrupting existing systems.
Expanding BTQ’s Korean Ecosystem
BTQ continues to expand its Korean ecosystem across digital assets, payments, banking infrastructure, and hardware-based security. In October 2025, BTQ announced that Finger had joined Danal as an early participant in BTQ’s QSSN pilot program, with the initiative expected to progress from proof-of-concept toward commercialization under QuINSA-aligned guidelines and broader industry frameworks such as PQFIF.
The commencement of the iM Bank proof-of-concept represents an important commercial signal for BTQ, indicating that demand for post-quantum migration among Korean financial institutions is beginning to move from policy discussion toward infrastructure-level implementation. As Korea advances both quantum technology policy and stablecoin-related regulatory discussions, BTQ believes QSSN is well positioned at the intersection of regulated finance, digital asset infrastructure, and post-quantum security.
About iM Bank
iM Bank is a South Korean commercial bank and a subsidiary of DGB Financial Group. Headquartered in Daegu, iM Bank presents itself as a financial companion for customers and traces its roots to Daegu Bank, which was established in 1967 as Korea’s first regional bank. For more information, please visit https://www.imbank.co.kr/
About Finger Inc. Group
Finger supplies and develops financial IT solutions to provide optimized money management strategies for employees and corporate customers. Providing “Smartphone Financial Services”, “Corporate Cash Management Services” for businesses, “Private Wealth Management Services” for private consumers.
Since the year 2000, Finger has accumulated a number of awards and patents regarding its businesses. Based on its Mobile Enterprise Application Platform(MEAP) Orchestra and its funds management system using screen-scrapping technologies, Finger was the first company in Korea to deliver a smartphone banking banking-service. For more information, please visit http://www.finger.co.kr/
About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is advancing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.
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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SOURCE BTQ Technologies Corp.
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Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference
Published
12 hours agoon
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
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SOURCE Zimmer Biomet Holdings, Inc.
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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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