Live Oak Ventures Participates in Financing of Sunbound, Inc.
Live Oak Ventures, the investment arm of Live Oak Bancshares, has announced an investment in Sunbound Inc., a provider of automated financial operations solutions for the senior housing industry.
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Rhea-AI Summary
Live Oak Ventures, the investment arm of Live Oak Bancshares, has announced an investment in Sunbound Inc., a provider of automated financial operations solutions for the senior housing industry. Sunbound's platform optimizes financial operations through digital payments, claims management, and data insights to improve cash flow for senior housing communities.
The platform aims to help senior housing facilities focus on residential care while enhancing their financial profile and operational efficiency. The Sunbound platform provides comprehensive revenue solutions, optimizing insurance claims and private pay solutions.
Positive
- Strategic investment in fintech solution for senior housing sector
- Expansion into growing senior housing market vertical
- Potential revenue synergies with existing senior housing business
Negative
- None.
Details
News Market Reaction – LOB
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WILMINGTON, N.C., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Sunbound Inc., a provider of automated financial operations solutions for the senior housing industry.
Sunbound leverages best in class technology to optimize financial operations, so senior housing communities can concentrate on delivering exceptional residential care while improving their financial profile and operational efficiency.
“Our team understands the challenges of operating in the senior housing market. Sunbound is offering an important, next-generation financial operating system that helps businesses navigate those challenges,” said Stephanie Mann, Live Oak Bank Chief Strategy Officer. “We are excited to invest in a company that is helping to advance and simplify revenue generation for a vertical we have been serving for many years.”
The Sunbound platform is a comprehensive revenue solution that helps optimize insurance claims and private pay solutions. The platform allows for online digital payments, claims management, data insights and improved cash flow.
“The Live Oak team brings a wealth of knowledge and experience, both in financial technology and the senior living industry,” said Manny Cominsky, CEO of Sunbound. “We look forward to collaborating with their team to achieve our shared vision of solving operators’ most pressing challenges, improving their financial performance and meeting the evolving needs of their residents.”
About Live Oak Ventures
Live Oak Ventures, a wholly owned subsidiary of Live Oak Bancshares (NYSE: LOB), is a fintech-focused investor that aims to bring innovation and performance excellence to the forefront of the banking industry. By investing in companies that accelerate the delivery of open digital solutions to the market, Live Oak Ventures intends to change the landscape of financial services and small business banking.
About Sunbound
Sunbound is on a mission to enhance, streamline and ultimately transform the financial processes for both senior living operators and their families. Today, senior living operators receive over
Contact:
Claire Parker
Live Oak Bank, Corporate Communications
910.597.1592
claire.parker@liveoak.bank
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