We just closed a new investment at Founders’ Co-op, and it’s an unusual one for us in several ways. For starters, it’s the first time we’ve invested alongside much larger venture capital firms - Seattle’s Ignition Partners and Madrona Venture Group led the round. In addition, the company - Appature - is much later-stage than we typically invest in: they’ve been in business since 2007 and are already operating in the black thanks to multi-year deals with customers like Johnson & Johnson and Medtronic. Finally, it’s a “big” financing relative to our usual deals, adding $3.5 million to the company’s balance sheet to help accelerate growth.
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Crash Dev: Announcing our newest Founders’ Co-op investment: Appature Sawickipedia: I certainly hope this deal portends more deals for Founders Co-op outside of its normal seed deals to date. Seattle desparately needs investors more like Jeff Clavier at SoftTech, Dave McClure at FoundersFund and Josh, Chris and Rob at First Round. Founders Co-op could be one of those types of investors but its limited investment criteria to date isn’t enough IMO. Chris and Andy - Please More! |
