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Thentia secures $38M to drive global expansion, innovation in regulatory technology and artificial intelligence
First Ascent Ventures, Spring Mountain Capital, BDC Capital and Espresso Capital lead Thentia’s latest $38M Series B extension round, supporting the company’s continued growth.
OKLAHOMA CITY, Okla., Jan. 26, 2024 /PRNewswire/ — Thentia, a leading innovator in regulatory technology, announced today that it has closed a US$38 million Series B extension round. The fundraise, led by existing investors including First Ascent Ventures, Spring Mountain Capital, BDC Capital, and Espresso Capital, reflects a continued commitment to Thentia’s vision. The funds will be strategically utilized to scale operations, propel accelerated growth, invest in artificial intelligence, and enhance Thentia’s ability to meet the evolving needs of its rapidly expanding global client base.
“We are thrilled to continue our support for Thentia with this latest investment. The remarkable strides they’ve made, coupled with their unwavering dedication to innovation in the government technology space, solidify our confidence in their inevitable global prominence,” says Richard Black, Co-Founder and Managing Partner, First Ascent Ventures. “As existing investors, we remain excited about the impressive momentum they have gained, and we look forward to witnessing their continued success in shaping the future of government technology and regulation,” Black adds.
“Thentia’s cutting-edge platform stands as a cornerstone for government agencies embarking on the journey of digital transformation. By seamlessly transitioning processes into the 21st century, Thentia empowers organizations to elevate user experiences for citizens while delivering indispensable data crucial for informed decision-making. These strides signify a pivotal shift in advancing government capabilities,” says Jamie Weston, Managing Director, Spring Mountain Capital.
“We’re pleased to continue our ongoing partnership with Thentia as it enters a new phase of rapid expansion and growth. The company’s cutting-edge platform delivers tremendous value to customers across North America and Europe by bringing innovation and efficiency to the regulatory industry,” says Will Hutchins, Managing Director, Espresso Capital.
“Thentia has brought together an exceptional group of leaders and subject matter experts who grasp the unique challenges facing regulators” says Mark Smith, Partner of BDC Capital’s Industrial, Clean and Energy Technology (ICE) Venture Fund, which has been an investor in the business since 2020. “Their differentiated expertise is what truly sets them apart and has enabled them to develop a platform that addresses key regulatory functions, and positions Thentia as a leader in the regulatory licensing category.”
Designed for regulators, by regulators, Thentia’s end-to-end SaaS ERP platform, Thentia Cloud, adeptly digitizes, streamlines, and consolidates all essential regulatory functions within a single and secure cloud-based environment. Empowering regulators with a comprehensive 360-degree view of all licensee activities, the platform facilitates a shift from suboptimal and inefficient processes to a modern, streamlined approach, elevating their ability to fulfill their paramount duty of safeguarding the public. Customers of the platform have demonstrated manifold improvements in their ability to regulate effectively and efficiently.
Trusted by millions of licensed professionals, businesses, and entities globally, Thentia has gained recognition from regulators worldwide for its unmatched blend of technological innovation and regulatory proficiency.
“We’re grateful for the steadfast support of our investors who have played a pivotal role in our journey. Together, we have not only built the regulatory platform of the future, but have also achieved remarkable success, becoming a leading force in enabling regulators to stay a step ahead with the rapidly evolving technology landscape,” says Julian Cardarelli, CEO, Thentia.
“Looking ahead in 2024, we are poised to unveil an array of innovations that promise to redefine the industry landscape. These transformative capabilities are not just enhancements; they are industry-altering advancements that will set a new standard for what is possible, forever changing the way we operate and leading us into a new era of excellence and innovation.”
As Thentia charts its course for continued growth, the company stands resolute in its dedication to excellence and the ongoing innovation of its platform that is committed to supporting regulators in their mission of public protection. Moving forward, Thentia will strategically allocate the recently secured funds to drive geographical expansion, unveil new cutting-edge features, and attract top-tier talent. This comprehensive strategy aims to elevate every aspect of its team, ultimately ensuring a world-class experience for its valued customers.
Thoughtfully built for regulators, by regulators, Thentia is driving regulatory transformation for hundreds of regulators and regulatory agencies worldwide with a platform that handles all key department functions including licensing, investigations, enforcement, fitness to practise, quality assurance, scope of practise, continuing education, board management, data analysis, and more. Thentia Cloud empowers regulators to transcend the constraints of legacy processes, custom-built solutions, and a web of disparate applications with a single unified 360-degree platform, setting new standards in efficiency and effectiveness.
Thentia Cloud is available on all major cloud providers, including Google Cloud, Amazon Web Services (AWS), IBM Cloud, and Microsoft Azure. For more information, visit thentia.com.
Founded in 2015 by Richard Black and Tony van Marken, First Ascent Ventures invests in early-stage, emerging, and growth-oriented enterprise software companies in the information technology sector. The First Ascent Ventures team bring deep bench strength as operating executives and investors having built and invested in significant, global enterprise software companies.
Spring Mountain Capital is a New York-based investment management firm with $1.7 billion of assets under management that focuses on alternative asset investing. The SMC Growth equity team focuses on providing expansion capital to companies capitalizing on breakthrough innovations, paradigm shifts, or fundamental market or behavioral changes. SMC invests in two sectors of the U.S. economy undergoing the most change and with the highest growth potential: enterprise technology and healthcare companies. For more information, visit: smcgrowthcapital.com.
BDC Capital is the investment arm of BDC, Canada’s bank for entrepreneurs. With over $6 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
Espresso Capital has been empowering fast-growing technology companies with innovative venture debt solutions since 2009. During this period, we’ve funded over 330 companies in the U.S., Canada, and the U.K., helping to accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Espresso is headquartered in Toronto, with offices in San Francisco, Chicago, and London. To learn more about how you can use venture debt to grow your business, visit espressocapital.com.
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Sc3 Asset Management and National Capital Company to Launch U.S. Defense Industrial Base Private Equity Platform
RIYADH, Saudi Arabia, May 26, 2025 /PRNewswire/ — Sc3 Asset Management announces that it is entering into a Memorandum of Understanding (MOU) to co-manage and launch a U.S. defense industrial base private equity platform in partnership with National Capital, a Capital Market Authority (CMA) regulated and licensed Saudi based Capital Market Institution.
This initiative is designed to pursue the rapid development and commercialization of key defense technologies – both within the United States and with allied nations – in support of the global mission.
This announcement comes alongside the historic U.S.–Saudi trade mission and reflects a shared commitment to strengthening transnational security cooperation, advancing sovereign innovation, and mobilizing trusted capital toward mission–critical infrastructure.
About National Capital KSA
National Capital Company (NCC) is a licensed Saudi–based Capital Market Institution regulated by the Capital Market Authority (CMA) of Saudi Arabia. NCC offers a full range of investment banking services, alternative investments asset management, advisory & arranging, and private equity & VC; with a strong focus on aligning capital with strategic sectors under Saudi Vision 2030. The firm provides robust financial governance, Shariah–compliant offerings, and is a trusted partner for domestic and international investment initiatives across the Kingdom of Saudi Arabia.
Learn more: www.nationalcapital.com.sa
About Sc3 Asset Management
Sc3 Asset Management is a U.S.-based alternative asset management firm focused on private equity, real estate, venture capital and private credit. The organization’s primary focus is on national security, aerospace, and emerging technologies. With decades of experience in defense sector investment and intelligence community operations as well as extensive experience as global asset manager, Sc3 specializes in aligning capital with mission-driven innovation. The firm supports technology commercialization, defense industrial base resilience, and sovereign infrastructure initiatives critical to U.S. and allied interests.
Learn more: www.sc3assetmanagement.com
About GIS QSP Skunkworks Inc.
GIS QSP Skunkworks KSA is a Saudi-based joint venture formed through an exclusive agreement between Science Technology for Development and Industrial Investment (Science Tech) and GIS QSP Skunkworks Inc., a U.S. Cyber Defense technology Company that provides solutions to Critical Infrastructure including quantum-resilient, mission-grade cybersecurity solutions to help secure IT, OT, and IOT networks and is headquartered in Mobile, Alabama.
GIS QSP Skunkworks KSA serves as a strategic platform for sovereign cyber capability development, secure hardware manufacturing, and public-private technology transfer aligned with Saudi Arabia’s Vision 2030.
The JV is positioned to support critical national security, defense-industrial, and commercial infrastructure modernization initiatives across the Kingdom and the broader GCC region.
https://www.gisqspskunkworks.com/
For media inquiries:
Kimberly Gretta
[email protected]
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Acne Medicine Market to Reach USD 4.27 Billion by 2029 | Key Trends in OTC & Prescription Segments Revealed | Valuates Reports
BANGALORE, India , May 23, 2025 /PRNewswire/ — Acne Medicine Market is Segmented by Type (OTC, Prescription Medicine), by Application (Topical, Oral).
The Global Acne Medicine revenue was USD 3616.6 Million in 2022 and is forecast to a readjusted size of USD 4273.4 Million by 2029 with a CAGR of 3.4% during the review period (2023-2029).
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Major Factors Driving the Growth of Acne Medicine Market:
The acne medicine market is experiencing significant growth propelled by rising acne prevalence, evolving skincare routines, and the growing demand for effective, accessible treatments. With options ranging from over-the-counter products to prescription solutions, the market caters to a broad consumer base. Continuous innovation, influencer marketing, and the expansion of telehealth services are reshaping how consumers approach acne management. Moreover, increasing interest in natural formulations and dermatologically tested products is redefining consumer preferences. As dermatology services become more accessible and digital platforms democratize skincare advice, the acne medicine market is expected to witness sustained growth, particularly across urban, youth-centric, and emerging economies.
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TRENDS INFLUENCING THE GROWTH OF THE ACNE MEDICINE MARKET:
Prescription medicines play a crucial role in driving the growth of the acne medicine market due to their high efficacy in treating moderate to severe acne. Dermatologists often prescribe topical retinoids, oral antibiotics, or isotretinoin for patients who do not respond to over-the-counter treatments. The increasing awareness among patients regarding the benefits of dermatologist-prescribed treatments has contributed to growing demand. Moreover, insurance coverage in several developed markets encourages patients to opt for prescription medications. The expanding teenage and young adult population suffering from persistent acne has also led to a surge in dermatological consultations, boosting prescription volumes. In addition, innovations in formulation and fewer side effects in newer drugs are enhancing consumer confidence, further accelerating market growth.
Over-the-counter (OTC) acne medications significantly contribute to the expansion of the acne medicine market by providing accessible and affordable solutions. Consumers prefer OTC products due to the convenience of purchase without a prescription and the availability of a wide range of options including gels, creams, face washes, and patches. Ingredients such as benzoyl peroxide, salicylic acid, and alpha hydroxy acids are commonly found in OTC products, offering effective treatment for mild to moderate acne. The rise of e-commerce platforms has made OTC acne solutions easily available to consumers globally, boosting sales. Additionally, aggressive marketing strategies and endorsements from influencers and dermatologists have elevated product visibility, encouraging higher consumer adoption and fueling market growth.
Oral acne medications are propelling market growth due to their effectiveness in treating severe and persistent acne conditions. These include oral antibiotics, hormonal treatments, and isotretinoin, which target internal root causes such as bacterial infections, hormonal imbalances, and sebum production. With increasing diagnosis and awareness of acne’s systemic causes, dermatologists are more likely to prescribe oral treatments. Additionally, the demand for fast and long-term results is driving preference for oral therapies. The pharmaceutical industry’s efforts to improve drug tolerability and reduce side effects have made oral acne medications more acceptable among patients. Furthermore, the rise in adult acne, particularly among women, has increased the prescription of oral hormonal therapies, expanding the overall market.
The growing prevalence of acne, especially among teenagers and young adults, is a key factor driving the acne medicine market. Hormonal changes, stress, dietary patterns, and environmental pollution contribute to acne outbreaks. As awareness of skin health increases, more individuals are actively seeking treatment options. This rising demand fuels product innovation and launches, encouraging manufacturers to develop both preventive and treatment-based medicines. Adult acne, particularly among working women, is also becoming a notable concern, pushing demand for specialized medications and dermatologist consultations. This demographic shift ensures a sustained need for effective acne therapies, thereby accelerating the overall market growth across both prescription and OTC segments.
Improved access to dermatology services and clinics is significantly influencing the acne medicine market. In both developed and developing economies, the number of dermatologists and specialized skincare centers is increasing. Government initiatives, insurance coverage, and urbanization are enhancing access to treatment. Additionally, teledermatology and online consultations have emerged as viable options for people in remote locations, further expanding the reach of acne treatments. The availability of professional guidance leads to increased prescriptions, higher treatment adherence, and more usage of both oral and topical medications. As healthcare infrastructure strengthens, especially in emerging markets, the demand for acne medicines continues to rise.
The rising emphasis on personal grooming and aesthetic appearance, particularly among younger populations, is boosting demand for acne solutions. Social media and digital influence are driving awareness about clear skin as a beauty standard, leading to increased spending on skincare products. Educational campaigns by brands, along with dermatologist-backed content, have contributed to de-stigmatizing acne while promoting proactive treatment. Consumers are becoming more knowledgeable about product ingredients and their effects, leading to demand for scientifically backed and dermatologically tested medicines. As people seek long-term solutions rather than quick fixes, the market is witnessing a surge in sustained usage of acne therapies.
There is a noticeable shift in consumer preferences toward natural and clean-label acne medications. Increasing awareness about the long-term impact of chemical-based products and concerns over skin sensitivity have pushed demand for safer, plant-based alternatives. Herbal formulations using tea tree oil, aloe vera, witch hazel, and green tea are becoming popular among eco-conscious consumers. Companies are responding by launching certified, cruelty-free, and non-toxic product lines, aligning with the values of sustainability and wellness. This trend is opening new growth avenues, especially in the premium segment, contributing to the diversification of the acne medicine market landscape.
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ACNE MEDICINE MARKET SHARE:
Global core acne medicine manufacturers include Galderma, Bausch Health, Teva etc.The top 3 companies hold a share of about 50%.
North America is the largest market, with a share of about 50%, followed by Europe and Asia Pacific with the share of about 25% and 15%.North America leads due to high awareness, dermatologist availability, and product innovation. Asia-Pacific shows rapid growth driven by a large youth population, increasing urbanization, and rising income levels. Europe benefits from robust healthcare systems and increasing cosmetic concerns.
In terms of product, prescription medicine is the largest segment, with a share over 77%.
And in terms of application, the largest application is topical, followed by oral.
Key Companies:
- Galderma
- Galderma S A
- Bausch Health
- TEVA
- GlaxoSmithKline PLC
- Mylan NV
- Almirall
- Sun Pharma
- Mayne Pharma
- Lion
- HUAPONT
- Sine Pharma
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
– Acne Products Market
– Baby Acne Medicine Market
– The global Oral Acne Medicine market was valued at USD 929.9 Million in 2023 and is anticipated to reach USD 1144.1 Million by 2030, witnessing a CAGR of 3.0% during the forecast period 2024-2030.
– Consumer Acne Medicine Market
– The global market for Topical Acne Medication was estimated to be worth USD 2685.7 Million in 2023 and is forecast to a readjusted size of USD 4015.4 Million by 2030 with a CAGR of 6.0% during the forecast period 2024-2030
– The global market for Acne Drugs was estimated to be worth USD 3616.6 Million in 2023 and is forecast to a readjusted size of USD 4592.8 Million by 2030 with a CAGR of 3.4% during the forecast period 2024-2030.
– LED Light Therapy Face Masks Market
– Anti-acne Dermal Patch Market
– Dissolvable Microneedle Patches market was valued at USD 485 Million in 2023 and is anticipated to reach USD 747 Million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.
– The global market for Cosmetics Microneedle Patches was valued at USD 472 Million in the year 2024 and is projected to reach a revised size of USD 748 Million by 2031, growing at a CAGR of 6.9% during the forecast period.
– Moderate To Severe Acne Therapeutics Market
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SAN FRANCISCO, May 23, 2025 /PRNewswire/ — Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has expanded its global footprint with the launch of its Institute of Foundation Models (IFM). The IFM is a multi-site initiative consisting of a newly established Silicon Valley Lab in Sunnyvale, CA, combined with previously announced lab facilities in Paris and Abu Dhabi.
The launch event yesterday at the Computer History Museum in Mountain View, establishes the third node in its global research network. This strategic expansion connects the university with California’s vibrant ecosystem of AI researchers, startups, and tech companies.
For the UAE and MBZUAI, this move represents another strategic step in the country’s long-term economic diversification plan. By investing in cutting-edge technologies like advanced AI foundation models, the UAE continues to build knowledge-based sectors to support its long-term economic and social transformation efforts.
“Today’s launch of the IFM represents a major step forward for the collaboration and global development of frontier-class AI foundation models,” said Professor Eric Xing, President and University Professor, MBZUAI. “Our expansion into Silicon Valley provides a critical footprint to grow our presence in one of the most vibrant AI ecosystems in the world. We’re creating pathways for knowledge exchange with leading institutions and accessing a talent pool that understands how to scale research into real-world applications.”
The launch event drew representatives from the world’s leading AI companies and academic institutions, highlighting the growing interest in MBZUAI’s global approach to foundation model research.
At the heart of MBZUAI’s demonstrations was PAN, a world model capable of infinite simulations of diverse realities ranging from basic physical interactions to complex agent scenarios.
Unlike previous systems focused primarily on generating text, audio, or images, PAN predicts comprehensive world states by integrating multimodal inputs like language, video, spatial data, and physical actions. This enables advanced reasoning, strategic planning, and nuanced decision-making for applications from autonomous driving to robotics.
PAN’s innovative hierarchical architecture supports multi-level reasoning and real-time interaction within simulations, maintaining high accuracy over extended scenarios. Its companion, PAN-Agent, showcases its utility in multimodal reasoning tasks, such as mathematics and coding, within dynamic simulated environments.
K2 and JAIS: Advanced Foundation Models with Global Impact
The IFM lab is also advancing two flagship AI systems demonstrating the commitment to further advance frontier-class foundation models: K2 and JAIS.
A soon to be released update to K2-65B will focus on delivering breakthrough reasoning capabilities with sustainable performance.
JAIS stands as the world’s most advanced Arabic large language model. At the IFM JAIS will continue to expand in capability with increased language support and add more context to preserve and promote the cultures it supports.
Building AI in the Open: Transparency as a Core Value
MBZUAI has established one of the industry’s most transparent approaches to AI development, open-sourcing not just models but entire development processes—positioning IFM as a leader in building openly. The LLM360 initiative provides researchers with complete materials including training code, datasets, and model checkpoints. This openness is balanced with safeguards including international advisory boards and peer review processes that maintain research integrity.
The IFM’s structure includes dedicated teams focused on model architecture, training methods, evaluation frameworks, and safety systems—combining the agility of a startup with the resources of an established research institution.
About Mohamed bin Zayed University of Artificial Intelligence (MBZUAI)
MBZUAI is a research-focused university in Abu Dhabi, and the first university dedicated entirely to the advancement of science through AI. For more information, visit www.mbzuai.ac.ae.
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