Coplex Company Profile

Background

Coplex is a venture studio specializing in the design and management of corporate startup studios. Established in 2018, the company collaborates with industry experts, entrepreneurs, and corporate innovators to launch high-growth technology ventures. Coplex's mission is to transform the art of business design into a repeatable science, enabling organizations to innovate rapidly and effectively. With a proven process, Coplex has been instrumental in building over 300 tech companies, contributing to an aggregate market value exceeding $4.5 billion.

Key Strategic Focus

Coplex's strategic focus centers on:

Corporate Startup Studios: Designing and managing startup studios for corporate clients to foster innovation and create new business models.

Venture Building: Partnering with corporates, founders, and investors to build high-impact ventures across various digital business models and industry verticals.

Stage-Gated Venture Building Process: Employing a structured approach that includes discovery, design and validation, investment and launch, and growth phases to systematically de-risk and scale new ventures.

Financials and Funding

In June 2019, Coplex announced a $2.5 million equity financing round to support the launch of its Corporate Venture Builder Program and the initiation of over 60 high-growth tech companies within that year. The Series Seed Round was led by DFE, the family office of Bennett Dorrance of Campbell Soup fame, and AZ Crown, the family office of Insight Enterprises Co-Founders Tim and Eric Crown. Additional investors included Ilya Pozin, founder of Pluto TV; Berke Bakay, founder of BBS Capital; Gregg Larson, founder of Clareity; and Kal Somani, founder and CEO of IntraEdge.

Pipeline Development

Coplex has been instrumental in developing and launching several notable ventures, including:

Insurmi: An AI-powered assistant transforming the insurance customer experience.

Nurseio: An on-demand staffing platform connecting nurses with consistent shifts and fast payments.

Qwick: A real-time staffing platform linking service industry professionals with food and beverage shifts.

Smile Virtual: A platform connecting patients to local dentists for virtual consultations, acquired in November 2021.

Steady Install: A service providing motivated and skilled on-demand workers for affordable and professional installations.

YellowBird: A platform supplying experienced on-demand environmental health and safety professionals.

Technological Platform and Innovation

Coplex distinguishes itself through:

Proven Venture Building Methodologies: Utilizing a stage-gated approach to venture building, encompassing discovery, design and validation, investment and launch, and growth phases.

Trusted Partner Network: Leveraging a network of partners to quickly de-risk assumptions and accelerate venture development.

Data-Driven Insights: Employing data-driven insights to inform decision-making and enhance the success rate of new ventures.

Leadership Team

Zach Ferres: CEO since 2012, Ferres is a lifelong entrepreneur who sold his first tech company at 24. He led Coplex's pivot to a venture builder model in 2016 and has been instrumental in its growth and success.

Jake Huber: Managing Partner, Huber has played a key role in establishing partnerships, such as the collaboration with Phoenix Children's to launch health care technology startups.

Leadership Changes

In 2016, Zach Ferres became the sole owner of Coplex, leading the company's transition to a venture builder business model.

Competitor Profile

Market Insights and Dynamics

The venture studio model has gained significant traction, with over 720 venture studios worldwide as of 2023. This model combines the creation and funding of new startups, offering a structured approach to innovation.

Competitor Analysis

Key competitors include:

500 Startups: A global venture capital firm and accelerator program supporting startups through mentorship and funding.

Techstars: An accelerator providing mentorship and investment to startups across various industries.

Y Combinator: A renowned accelerator that has funded numerous successful startups.

Betaworks: A venture studio investing in new consumer behaviors and trends powered by frontier technologies.

High Alpha: A venture studio focusing on building and investing in B2B SaaS companies.

Strategic Collaborations and Partnerships

In May 2022, Coplex partnered with Phoenix Children's, one of the nation's largest pediatric health systems, to launch six new health care technology startups over three years. This collaboration aims to leverage Phoenix Children's innovations to impact pediatric health care on a broader scale.

Operational Insights

Coplex's strategic considerations include:

Corporate Innovation: Positioning itself as a leader in corporate venture building, offering a repeatable process to launch and de-risk new ventures.

Diversified Portfolio: Building a diversified portfolio of business models across various industry verticals to mitigate risk and maximize impact.