Leadout Capital: Summer 2025 Newsletter
Dear Leadout Capital Community,
As we reach the midpoint of 2025, we are excited to share meaningful momentum across the Leadout portfolio. From new funding rounds to strategic partnerships and product milestones, our founders continue to execute with focus and vision. Here are a few highlights from the first half of the year:
Among these emerging successes, Creatify is a particular highlight. The company raised a $15.5 million Series A round co-led by WndrCo and Kindred Ventures, with participation from Nat Friedman and Daniel Gross. This funding supports the launch of AdMax, Creatify’s AI-powered agent that automates the entire video ad lifecycle, from creation to testing and optimization. Just 18 months after launch, Creatify has already surpassed $9 million in ARR and serves over 1.5 million users across 10,000+ teams globally. We are eager to see Creatify’s continued success in the emerging category of AI-driven marketing.
Portfolio Company Spotlights:
AtoB announced its fuel card partnerships with Nolan Transportation Group (NTG) and EG America.
BlockSpaces announced a $2 million strategic funding round led by Axiom, with participation from Leadout Capital and other investors. The funding will be used to fuel the launch of ARCC (Auto Reconciled Collateral Contracts), the first Bitcoin-native collateral and risk management platform for institutions.
Cloudsmith, a fully managed, cloud-native artifact management platform designed to securely host, control, and distribute software packages and containers at enterprise scale, announced a $23M Series B funding round led by TCV, with participation from Insight Partners and existing investors.
Creatify announces its $15.5M Series A funding round, led by WndrCo and Kindred Ventures. Jeffrey Katzenberg, founder of DreamWorks, is joining the board along with Steve Jang from Kindred. Creatify also announced that it had crossed $9M in ARR 18 months after its launch.
Expo announced a series of new product launches, including Expo Router v5, Expo Maps, SDK 53, and EAS Hosting.
First Bite launched its new digital rebates platform, which enables manufacturers to create digital rebate programs, process and pay them, and track clicks, claims, redemptions, and attribution on a real-time dashboard.
Kraftful launched Kraftful 4.0, won Product of the Week on Product Hunt, and launched support for new feedback channels, including Freshdesk and Discord.
Liferaft announced that Vitable Health, a leading all-in-one health benefits platform, acquired its HRA solution.
Near Space Labs announced a $20M Series B round led by Bold Capital Partners, alongside USAA and existing backers.
Pavilion was recognized by Government Technology magazine as one of the top 100 companies transforming state and local government operations across the United States for the second consecutive year. In addition, Pavilion also announced partnerships with SOVRA and GovAI Coalition.
R-Zero Filtration received the “Most Disruptive Technology” award at Data Center World 2025 for its breakthrough HVAC filtration technology, which delivers energy and operational savings without requiring construction or complexity.
Warm regards,
Ali, Steve, Yun-Fang, and Dion
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