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Tag: IDI Distributors

IDI Distributors to spend $6,200,000.00 to occupy 64,350 square feet of space in Grand Prairie Texas.

Grand Prairie, Texas — According to state and local development sources, IDI Distributors plans to invest $6,200,000.00 to build out 64,350 square feet of new space in Grand Prairie. The company plans to occupy the…

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Rain, the employer-integrated earned wage access (EWA) and financial wellness app, announced today it has raised $75 million in Series B equity funding. The round was led by Prosus with additional participation from Nextalia Ventures, Spark Growth Ventures, and existing investors including QED, Invus Opportunities, and others. Following consistently high growth since its founding in 2019, this funding will help Rain scale its go-to-market machine and build new employee financial wellness solutions and new employer solutions.

In a statement Alex Bradford, Co-Founder and CEO said, “Rain is building the employee engagement app of the future centered around financial wellness. Rain makes it easy for employers to give their employees the freedom to access and manage their earnings on their own terms. Thanks to the support from Prosus, Nextalia and other investors participating in this round, Rain is in a strong position to scale to thousands of new employers and millions of new employees across the U.S.”

Rain is the one-stop-shop app for financial wellness and employee engagement. In addition to EWA, Rain offers other products including a deposit account and debit card, an overdraft fee avoider, a bill reducer, a tax filing tool, a financial education portal, in-app 1×1 financial coaching, an AI-powered financial wellness and job support agent, an off-cycle payments tool, and an employee rewards tool. Later this year the company is planning to launch innovative savings and credit products, and an employer messaging tool.

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Infinite Reality, an innovation company powering the next generation of digital media and ecommerce through extended reality, artificial intelligence, and other immersive technologies, announced today the company has entered into a definitive agreement to acquire Touchcast, a pioneering agentic AI company for $500 million in a combination of cash and stock. The acquisition is Infinite Reality’s largest yet, and the transaction agreement values the company at $15.5 billion.

Touchcast’s powerful agentic AI platform, known as Mentorverse, generates an infinite universe of specialized AI mentors who engage in natural, face-to-face video conversations and, unlike traditional chatbots or static web experiences, combine consistent personalities with deep domain expertise to deliver genuinely helpful guidance through natural, multimodal interactions. The integration of Touchcast’s technology across Infinite Reality’s portfolio of products and services will enable iR customers to tap AI agents for a number of tasks that drive user engagement, customer support, and sales.

Touchcast, built on OpenAI and delivered on Microsoft Azure via a $50 million strategic partnership, provides a suite of groundbreaking AI delivery systems that dramatically improve response times for AI interaction. For businesses, this means the ability to deliver seamless, human-like experiences while boosting efficiency and reducing costs—a vital edge in today’s competitive digital landscape.

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