First Ctzns Bancshares Inc N C Stock Price, News & Analysis

Harness has announced a $150 million financing round with investments from Silicon Valley Bank and Hercules Capital. This funding will support expanding the Harness platform, adding new modules, integrating generative AI, and investing in go-to-market strategies. The company, which has seen its Annual Recurring Revenue (ARR) grow from $1 million to over $100 million in five years, aims to enhance developer productivity and reduce non-code-producing work.

Key milestones include 44 million code deployments in 2023, the introduction of generative AI assistant AIDATM, launch of four new product modules, and the addition of enterprise customers like Nike and NetApp. The financing will enable Harness to continue innovating and expanding its market-leading software delivery platform.

The 2024 Future of Climate Tech Report by Silicon Valley Bank reveals that climate tech has remained resilient despite a significant drop in overall venture capital (VC) fundraising. While VC fundraising and deal activity in 2023 declined by 24% from 2021, climate tech is only 14% below 2021 levels. The report notes increases in specific subsectors such as carbon tech and climate data. Despite a 50% decrease in invested capital, climate tech fundraising remains on par with 2020 levels, making up 11% of deals, a rise from 2% in 2020. Challenges include lower VC investment and higher interest rates, pushing companies to prioritize profitability. However, incentives like tax credits are driving growth in carbon capture and industrial heat technologies. The sector faces difficulties with public exits due to high interest rates and market uncertainties.

First Citizens Bank arranged a $260 million loan to refinance 12 skilled nursing facilities in Maryland, providing care to individuals needing rehabilitation or 24-hour medical attention. The borrower is a Midwest-based healthcare real estate investment company. The Healthcare Finance division of First Citizens specializes in providing financing solutions to middle market healthcare companies across the U.S.

First Citizens Wealth has launched new enhancements to its Private Investments capabilities, allowing qualified clients to invest in growth-oriented opportunities beyond public securities markets. These options provide access to private equity, real assets, and credit and debt for qualified institutions and high net-worth individuals without large capital commitments. The enhanced capabilities offer diversified private market sectors, customizable portfolio consultation, and full-service administrative support. While private investments offer growth potential and diversification, they also come with risks like less liquidity.