Craft Aerospace’s eVTOL aircraft could upend local air travel
Air taxis may still be pie in the sky, but there’s more than one way to move the air travel industry forward. Craft Aerospace, with $3.5M in funding, aims to do so with a totally new vertical takeoff and landing aircraft that it believes could make city-to-city hops simpler, faster, cheaper and greener.
The aircraft — which, to be clear, is still in small-scale prototype form — uses a new VTOL technique that redirects the flow of air from its engines using flaps rather than turning them (like the well-known, infamously unstable Osprey), making for a much more robust and controllable experience.
Co-founder James Dorris believes that this fast, stable VTOL craft is the key that unlocks a new kind of regional air travel, eschewing major airports for minor ones or even heliports. Anyone that’s ever had to take a flight that lasts under an hour knows that three times longer is spent in security lines, gate walks and, of course, getting to and from these necessarily distant major airports.
“We’re not talking about flying wealthy people to the mall — there are major inefficiencies in major corridors,” Dorris told TechCrunch. “The key to shortening that delay is picking people up in cities and dropping them off in cities. So for these short hops, we need to combine the advantages of fixed-wing aircraft and VTOL.”
The technique they arrived at is what’s called a “blown wing” or “deflected slipstream.” It looks a bit like something you’d see on the cover of a vintage science fiction rag, but the unusual geometry and numerous rotors serve a purpose.
The basic principle of a blown wing has been explored before now but never done on a production aircraft. You simply place a set of (obviously extremely robust) flaps directly behind the thrust, where they can be tilted down and into the exhaust stream, directing the airflow downward. This causes the craft to rise upward, then forward, and as it gets enough airspeed it can retract the flaps, letting the engines operate normally and driving the craft forward to produce ordinary lift.
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Crypto asset platform Onramp Invest closes $6M seed round to accelerate growth and financial advisor adoption
We are excited to be a part of OnRamp Invest's journey and join the seed round to accelerate their disrupting the digital asset markets and becoming the Plaid of digital asset management.
Coinbase Ventures, Gemini join $6 million seed round for crypto platform Onramp Invest - The Block
Onramp Invest is an iPaaS (integration platform as a service) technology company providing access to cryptoassets for registered investment advisors. Our comprehensive cryptoasset management solution will enable advisors to help their clients safely, confidently, and intelligently invest in the new age all within their existing workflows and billing models.
The infusion of capital will enable the integration platform as a service (iPaaS) company to expand its crypto assets platform to registered investment advisers.
“I am extremely excited that we were able to participate in Onramp’s seed round alongside other top tier FinTech and crypto asset investors”
Onramp is known for providing three things to RIAs -- education, access, and tools (EAT). From viewing held-away cryptoassets to enabling advisers to trade on behalf of their clients to accessing educational resources about cryptoassets at Onramp Academy, Onramp is passionate about educating financial advisers and their clients about cryptoassets by outlining the framework of crypto networks, providing advisers with client-ready materials, and conducting deep-dive research for continuing education.
“I am extremely excited that we were able to participate in Onramp’s seed round alongside other top tier FinTech and cryptoasset investors,” said Chad Fox, Managing Partner, Fox Ventures. “We have such conviction in Tyrone and the team’s ability to connect the legacy FinTech sector to the entire cryptoasset ecosystem that we made a commitment six times larger than our standard check size. This is a testament to what this team is capable of and I look forward to supporting them as they continue to build infrastructure that connects and makes cryptoassets accessible.”
Reflecting on what receiving this fundraising means, Tyrone Ross, Jr., Onramp Invest Chief Executive Officer, said, “Black founders historically get left out of these types of funding opportunities. I want to thank all of our seed fundraising participants for blessing our company with this great opportunity to demystify cryptoassets and for me to inspire little Black boys and show them that they can be a startup CEO too. And I appreciate our early adopters and supporters who have helped us to launch Onramp and encouraged us to stay true to our mission to innovate.”
Onramp celebrates its first year in business today, August 3. Since the platform’s official launch at the end of May, it has provided fast, direct access to cryptoassets for RIAs; easy adviser client onboarding via Gemini, a crypto exchange and custodian, and Prime Trust; a simple adviser enrollment so they can quickly begin buying bitcoin and ETH for their clients; links to 10 different sources so advisers can see held-away assets; and high-quality educational materials for all cryptoassets comfort levels through Onramp Academy.
Onramp has made some exciting recent additions to its team including the appointment of Akin Sawyerr to its Chief Innovation Officer. Additionally, Justin Castelli, CFP®, was recently elevated to Chief of Staff; Torie Happe was promoted to Head of Business Development; and Caitlin Cook was advanced to Vice President of Operations at Onramp Academy.
For those interested in learning more, please visit onrampinvest.com or academy.onrampinvest.com for more information.
Data Streaming Platform Narrative Launches Data Shops
"Shopify for Data" Earns Customer Praise for Innovative and Accessible Data Monetization Solution
“Narrative Data Shops is an important part of our data monetization strategy, providing options that go well beyond traditional listings on data marketplaces today. With our proprietary first-party data asset of over 250 million opted-in consumer profiles, this relationship provides us with the ability to build an entirely new revenue stream – while allowing us to retain full control of our licensing terms and who gets access to our data shop.” – Brian Hogan, President, Data Solutions, Fluent, Inc.
Following the recent success of a limited early access program for its users, Narrative, the Data Streaming Platform that makes it easy to buy, sell and win, today launched Data Shops, the company’s latest innovative solution that makes it easy for any business in any industry to launch their own branded data e-commerce experience without spending significant time and resources.
“E-commerce has become a common part of our lives,” said Nick Jordan, Founder and CEO of Narrative. “It’s never been easier to buy almost anything at any time. Yet the buying and selling of data have remained a convoluted process that often takes months. Narrative Data Shops is a category maker – a truly transformational offering in the marketplace that is being enthusiastically embraced by customers as the ‘Shopify for Data.’ It’s an end-to-end solution for standing up a data business, from the top of the sales and marketing funnel through to transactions and delivery.”
Narrative Data Shops: The “Shopify for Data”
Data Shops makes data monetization accessible to all businesses and all types of data—from healthcare to financial services to marketing. The suite of apps enables businesses to package, sell, and deliver data via a customized e-commerce storefront. Even with zero coding or design experience, a user can have a customized digital shop up and running in an hour or less. The Data Shops collection of apps includes:
- Dataset Manager to automatically transform raw data into standardized datasets for easy packaging and discoverability, no coding experience necessary.
- Seller Studio to package your data into custom data products and manage licensing terms and access rules.
- Shop Builder to create a custom-branded e-commerce storefront.
Customers Praise Narrative Data Shops
Customers who recently participated in the company’s Early Access Program are praising Data Shops for meeting a critical need in the marketplace and applauding the revenue opportunities that it opens up for users:
“Narrative Data Shops has made it easy for us to spin up an e-commerce store that showcases AdImpact’s advertising intelligence data. The team has been outstanding in providing us with logistical support — from warehousing data to delivering it to our media, agency, political, and platform buyers. Data Shops is a turnkey, end-to-end data monetization experience that opens up an entirely new channel for us to deliver real-time linear, CTV, and digital ad spend data to customers.” – Dwight Green, Chief Business Officer, AdImpact
“AnalyticsIQ is excited to be a founding customer of Narrative Data Shops. Data users are only as good as the data they are aware of and can access. With Data Shops, we can more easily connect users with a variety of quality data they may not have otherwise found, giving them the ability to identify the right data for their analytic mission and to us, that is both exciting and important.” – Dave Kelly, CEO, AnalyticsIQ
“PurpleLab is driving innovation in the healthcare data industry by re-architecting how real-world data is understood and accessed. We aim to deliver on a standard of access in minutes, and insight instantly. While our database structures and flexibility are foundational to enabling life science organizations to better understand markets and analyze outcomes at speed, digital marketplaces have struggled to meet this velocity, hidebound as they are by older data structures and business rules that restrict how buyers and sellers can collaborate. Narrative Data Shops is the first solution we’ve found with the same commitment to frictionless marketplaces that provides data on the client’s terms, and easy iteration of new product types to identify unmet demand.” – Mark Brosso, CEO, PurpleLab
Cabana raises $10M series A for a new travel van experience
We are thrilled to join Cabana's series A financing and journey to disrupt the way we vacation, with an entirely new travel van experience.
Also Read:
Exclusive: Cabana Raises $10M Series A For Luxe Travel Van Rentals - Crunchbase News
Cabana, a startup that turns vans into bookable mobile hotels, raised $10 million in a Series A round led by Craft Ventures and Goldcrest Capital.
VCs back ‘vanlife’ as Seattle travel startup Cabana raises $10M for its camper rental service - GeekWire
Seattle-based startup Cabana is riding interest in “vanlife” travel and just landed $10 million to fuel the growth of its service that brings together camping, car sharing, and boutique hotel luxuries.
Original Cabana.Life post [here]
One year ago, we set out to pave the way for a new travel experience. What if you could bring your hotel with you? How much stress would be avoided if you could book your hotel and car in one reservation? How would it change travel if you had the ability to make and change plans on the fly without canceling reservations? And, could we really design a campervan that is as good or better than a hotel room?
Today, we’re celebrating a year of doing just that, with new financing under our belt. We’re thrilled to announce the close of our $10M Series A funding round, led by Craft Ventures and Goldcrest Capital, that will allow us to further improve the Cabana experience and bring that experience to travelers in new cities. Launch, Castor Ventures, Gaingels, Nordic Eye, and other key angels and syndicates joined the round as well.
With new financing and investors come new mentors for cultivating Cabana’s culture and service. Paul English, co-founder of Kayak, is excited about the prospects of Cabana. “Cabana is leading the thinking behind how Americans will vacation today and in the future. Their custom ‘hotel on wheels’ gives travelers the best of both worlds, a comfortable modern stay and the freedom of the road,” Paul explains. “It’s the best experience to get a taste of both the city and its surrounding outdoor beauty.”
More Vans and More Cities
In our first year, we expanded our fleet in our homebase of Seattle, and we launched our second market in Los Angeles. With new funding, we’ll be adding over 100 new vehicles to our fleet.
Guests have already spent over 6.7K nights out on the road with Cabana, and vanlife is continuing to gain momentum. “Cabana’s growth during the pandemic proves the increasing consumer shift away from traditional modes of travel,” explains David Sacks, co-founder and general partner of Craft. “We look forward to seeing Cabana expand into new markets and enhance its superior fleet of upscale, affordable mobile hotels.”
In addition to expanding in Seattle and LA, you’ll see us in new cities shortly! We’ve noticed you in our Instagram comments asking when we’ll be in San Francisco, Portland, Salt Lake City, Denver, and so on… and we can’t wait for the day everyone can walk down the street and hop in a Cabana. To be the first to know where we’re going next, sign up for our emails.
Family Fun
Getting your feedback over the past year has been invaluable, and our team is already making changes big and small to make your next Cabana trip even better.
One of our most exciting upcoming additions to the fleet is a four-passenger van. We’re excited to help your go-to travel team hit the road, whether it be your best friends for a West Coast wine tour or your kids for the classic national park camping trip, leveled up.
Easier, Smarter Trip Planning
Did you know that nearly 70% of our guests have never rented a campervan or RV before? We are honored that so many travelers trust us for their first trip, and we plan to continue removing barriers of entry in van travel.
When we heard that some guests had trouble knowing where to stay overnight, we launched Cabana Concierge to help plan your route, your overnight stops, and your activities along the way. Our trip planners have created over 200 unique itineraries and have helped guests find safe dispersed camping, one-of-a-kind scenic sites, and everything in between. We’ll continue to personalize our planning to fit every type of traveler, from the schedulers to the spontaneous.
Passionate People
We wouldn’t have had the amazing year we’ve had if it wasn’t for the hard working, creative, never-say-no team of Cabana employees. We’re excited to bring on more talented individuals for the projects we’ve been dreaming about. In fact, we’re hiring now!
Platform Partners
As we expand to new cities, we’re coming up with new ways to do business, too. Working with platform partners will allow us to expand more quickly and help guests explore even more ground. Interested in becoming a partner? Contact us here.
Creating Exceptional Experiences
As excited as we are for all of the ways Cabana is about to grow, at the end of the day it’s all about you. Your time is valuable –– especially your vacation time! We’re so thankful for everyone who has chosen Cabana to make the most of theirs and given their feedback to help us improve. Our team is full of ideas of how to continue to make Cabana the most special, most seamless way to travel.
As we embark on our second year, we look forward to seeing you all on the road!
Synctera Raises $33M Series A to meet demand for their Banking-as-a-Service from community banks and fintechs
Also Read
Synctera Aims $33M Series A At Developing Banking-as-a-Service - Crunchbase
Follow Synctera On -> Twitter | LinkedIn | ProductHunt
The partnership banking solution also announces its commitment to the Cap Table Coalition aimed at increasing traditionally marginalized representation in the venture capital ecosystem.
SAN FRANCISCO (June 2, 2021)--Synctera, a new platform for partnership banking at scale, today announced a $33M Series A round led by Fin VC. The Series A included follow-on investments from Lightspeed Venture Partners, Diagram Ventures, Portage Ventures, SciFi Ventures, and Scribble ventures as well as several new strategic investors, including Mastercard, Omri Dahan (Former Chief Revenue Officer, Marqeta), Nuno Sebastiao (Chairman and CEO, Feedzai), Tim Sheehan (Co-Founder and CEO, Greenlight), Tom Williams, Johnny Ayers (CEO, Socure) and more.
Synctera’s Series A quickly follows its seed funding round from December 2020, which was led by Lightspeed Venture Partners and Diagram Ventures, and brings Synctera to $46.5M in funding to date.
Synctera enables community banks and FinTechs to create new growth opportunities by forging scalable partnerships without the hassle. For banks, Synctera streamlines day-to-day reconciliation, operations and regulatory compliance, while allowing FinTechs to launch faster with more choice via a one-stop-shop API. With Synctera, community banks can focus on serving their communities and local customers, while Synctera matches them with a FinTech to help both partners scale and grow.
"Since launch, Synctera has formed one of the best teams in the industry. Bringing on a group of investors with deep industry expertise will help us meet rapidly increasing demand in our next stage of growth," said Peter Hazlehurst, CEO and co-founder of Synctera. “For this next chapter—and to put action behind Synctera’s values—we pledge to reserve 10% of this round and all future rounds to diverse investors, allowing for more representation and collaboration to further innovate the industry.”
Demand for Synctera’s solution has been immense since its launch last year, especially as the embedded finance and Banking-as-a-Service (BaaS) fintech sectors have grown exponentially. The Series A funding will help Synctera meet this demand head-on by expanding its software engineering team to rapidly accelerate the development of its product roadmap, ramping up sales and marketing to build and capture market demand, and prepare for a future international expansion.
“As soon as we met Peter, Kris, and Dominik and learned about their vision for the market, we were immediately sold,” said Logan Allin, Managing General Partner and Founder at Fin VC. “The specific focus on community banks and the world-class tech behind the platform really convinced us that they’re building a category winner that will underpin financial services of the future.”
Fin VC has a deep history of investing in some of the world’s most transformative FinTechs, like Figure, Pipe, and SoFi.
Synctera is also announcing its commitment to the Cap Table Coalition alongside other high-growth startups by allocating 10% of all funding rounds to traditionally marginalized investors. Gaingels, Neythri Futures Fund, Plexo Capital and over 20 angels participated in Synctera’s series A as a part of the coalition. By committing to the pledge, Synctera hopes that other founders and companies will join the coalition.
"It's an honor to partner with founders and entrepreneurs who stand by their values and actively create the changes they want to see," said Qiana Patterson, General Partner at Tamaa Capital and manager of Synctera's Special Purpose Vehicle (SPV). "After coordinating Finix's SPV earlier this year, the number of startups seeking to replicate the work was overwhelming, and Synctera was first in line. By providing space for underrepresented investors on its cap table, Synctera is creating a game-changing opportunity for access and wealth creation."
“As the largest investor network focused on supporting and investing in the best venture-backed companies that embrace and value diverse leadership, including LGBTQ+, Gaingels is proud of participating in Synctera’s financing,” said Gaingels Managing Director Lorenzo Thione. “We are resolved to help the company grow and scale, while building a truly inclusive company and leading the fintech sector with its commitment to DEI, as reflected in this pledge.”
As Synctera continues to build out its FinTech-as-a-Service offering, the company also continues to onboard customers, such as its latest customers Lineage Bank, a new community bank, and Ellevest, a new FinTech collaborating with Coastal Community Bank, which onboarded in May 2021. The company is also rapidly growing internally, and is actively hiring for roles across engineering, product and sales. Synctera plans to grow its team to over 150 by the end of the year.
Community partner banks and FinTechs are encouraged to reach out via Synctera’s website to learn more about how to work together. For more information, please visit www.synctera.com.
For visual assets, founder bios and headshots, FAQ and more, please access the media kit here.
ABOUT SYNCTERA
Synctera is building a partnership banking marketplace connecting community banks with FinTech platforms. The platform reduces risk, ensures compliance and speeds launches to market for FinTechs and banks alike, Synctera creates meaningful connections between community banks seeking more customers and FinTech platforms that need a licensed partner to operate in the US. Launched in 2020, the company was co-founded by CEO Peter Hazlehurst, former head of Uber Money, head of Google Wallet and CPO at Yodlee, as well as CTO, Kris Hansen and Head of Product, Dominik Weisserth. For more information, please visit www.synctera.com.
ABOUT FIN VC
Fin Venture Capital is focused on Enterprise SaaS FinTech companies and specific theses within six sub-sectors: Embedded Finance, Asset Management/Capital Markets, CFO Tech Stack, InsureTech, Blockchain Enterprise Applications, and Enabling Tech/Infrastructure. Fin VC principally focuses on the US and EU/UK. As former corporate and start-up operators, the Fin VC team takes an active value-added approach, leveraging its Operating Playbook to steward its portfolio companies with business development, capital formation, corporate development, board advisory and talent sourcing. For more information, please visit finvc.co.
ABOUT THE CAP TABLE COALITION
The Cap Table Coalition is a partnership between high-growth startups, emerging investors and fund managers who want to work to close the racial wealth gap. Its mission is to diversify the VC ecosystem by creating investment opportunities for Black, Latinx, LGBTQ+, women and other traditionally marginalized investors. A growing list of committed startups includes Finix, Synctera, Orum and more, with investment community members featuring Qiana Patterson (Tamaa Capital), Roman Leal (Lead Global Partners), Camden McRae (Matador Ventures), Marcos Gonzalez (Vamos Ventures) and Luis Robles (Viento Ventures). The Cap Table Coalition was inspired by the Act One Diversity Rider for VCs and Finix’s unique fundraising efforts to diversify startup cap tables via Special Purpose Vehicles (SPVs). For more information, please visit www.captablecoalition.com.
Drone flight infrastructure platform Airspace Link raises $10M to make drones safer for operators and communities
An intro to Airspace Link's drone flight infrastructure.
Original article on TechCrunch by Matt Burns
Airspace Link is today announcing it raised a $10 million Series A from Altos Ventures, Thales and others. The Detroit, Michigan-based startup anticipates using the additional funds to expand its domestic offering and expand overseas.
CEO Michael Healander explains to TechCrunch that the company sees airspaces as digital infrastructure lacking critical regulations. “Today you have rules and regulations on the road,” he says, explaining that the company is building digital roads and management for drones. Airspace Link’s novel platform addresses drone operators’ and communities’ concerns, enabling pilots to safely fly while complying with local airspace restrictions.
Airspace Link’s AirHub™ is the first cloud-based drone platform focused exclusively on merging the needs of state & local government with the operational planning tools pilots already use. Image Credits: Airspace Link
Airspace Links offers drone operation planning tools, including API access that allows developers to incorporate Airspace Link’s data into third-party platforms. The company’s system complies with the FAA’s Low Altitude Authorization and Notification Capability (LAANC), enabling drone pilots to submit operations while flying in controlled airspace. The company is one of seven FAA-approved companies to provide this service.
With the Series A funding, Healander says the goal is to integrate with as many transportation groups as possible.
Founded in 2018 by Michael Healander, Daniel Bradshaw and Ana Healander, the Detroit-based startup employs 20 full-time staff. The company says in a press release that it has partnerships with more than 40 government agencies and municipalities in the United States. Going forward, the company is looking to expand to Australia and Canada.
According to Healander, what distinguishes Airspace Link from the other competitors in the market is its integration with mapping tools used by municipal governments to provide information on ground-based risk.
“Our core purpose is to safely integrate drones into the national airspace and our communities at scale,” said Healander. “We thank Altos Ventures and Thales for joining our vision of paving the way for the drone economy with shared, neutral, and affordable UAS infrastructure.”
For Healander, Airspace Link is only the latest entrepreneurial venture. He previously founded GeoMetri, an indoor GPS tracking company, which was acquired by Acuity Brands.
Altos Ventures led Airspace Link’s Series A round, with participation from Thales, a global leader of air traffic management systems, and previous investors Indicator Ventures,2048 Ventures, Ludlow Ventures, Matchstick Ventures, Techstars and Dan Gilbert’s Detroit Venture Partners (DVP).
“As Unmanned Aircraft Systems (UAS) usage continues to grow, for safe, low altitude operations around communities, airspace management must combine both air and ground insights,” said Todd Donovan, Thales vice president, Airspace Mobility Solutions Americas. “Our deep knowledge of airspace management and Airspace Link’s expertise in geospatial intelligence are the perfect combination to address this complex challenge.”
Tech IPOs by the numbers Hype vs Reality?
The Hype vs. Reality of Tech IPOs
Initial Public Offerings (IPOs) generate massive amounts of attention from investors and media alike, especially for new and fast-rising companies in the technology sector.
On the surface, the attention is warranted. Some of the most well-known tech companies have built their profile by going public, including Facebook by raising $16 billion in 2012.
But when you peel away the hype and examine investor returns from tech IPOs more closely, the reality can leave a lot to be desired.
Competitive intelligence platform Crayon raises $22 million Series B to empower companies
Crayon Raises $22 Million Series B to Empower Mid-market & Large Enterprises With Competitive Intelligence
AI-driven software helps increase sales with valuable data capture and analytics that inform business decisions and actions
READ MORE:
Crayon Draws Up $22M Series B To Help Companies Get That Competitive Edge - Crunchbase News
BOSTON--(BUSINESS WIRE)--Crayon, the leading competitive intelligence platform for the enterprise, today announced a $22 million Series B financing led by Baird Capital with participation from Baseline Ventures, Bedrock Capital, C&B Capital and Oyster Funds. Crayon also welcomed Gaingels as an investor in the Series B as part of our commitment to diversity, equity & inclusion. The company’s total capital raised to date is $38 million. Crayon will use the funding to accelerate product development and expand its team. The company also announced Baird Capital’s Benedict Rocchio joined its Board of Directors.
“Traditionally, gathering this data was a highly manual, time-intensive and expensive process. But today there’s a far better way to compete that’s software driven. Our platform captures competitive intelligence programmatically in real-time and empowers teams to take timely action towards increased sales and better differentiation in their market.”
Crayon helps mid-sized and large enterprises capture, analyze and act on competitive intelligence to drive better execution & decision-making in all areas of the business. More than 500 customers including Discover, Dropbox, Gong, Intuit, SurveyMonkey, Zendesk, and ZoomInfo, rely on Crayon to power competitive intelligence efforts across their sales, marketing, product, and executive teams. Crayon’s platform looks both within the organization and externally, generating insights from more than 300 million sources and enabling customers to publish, share and leverage intelligence in a variety of formats and frequencies to match stakeholder needs. From battle cards to newsletters, alerts and dashboards, Crayon integrates with CRM, chat, sales enablement and knowledge-sharing platforms to ensure teams never miss a competitive development or opportunity.
Competitive intelligence should be a strategic priority for every company with at least one competitor in their space. Standing out and differentiating through product design, packaging, and messaging is crucial, with 75% of technology buyers claiming they don’t understand how vendors are different[1]. And with nearly one-third of all sales pitches lost to competitors[2], discovering and sharing compelling insights can mean the difference between winning or losing a competitive deal for businesses. According to Crayon’s 2021 State of Competitive Intelligence Report, which surveyed more than 1,000 companies, over 60 percent of businesses report competitive intelligence has positively impacted revenue, a 17 percent increase from their 2019 report.
“It has always been critical that businesses respond with speed and urgency to competitive shifts because competitive intelligence informs everything from product launches to pricing strategies to marketing campaigns. But there’s traditionally never been a good way to pull that off,” said Jonah Lopin, co-founder and CEO of Crayon. “Traditionally, gathering this data was a highly manual, time-intensive, and expensive process. But today there’s a far better way to compete that’s software-driven. Our platform captures competitive intelligence programmatically in real-time and empowers teams to take timely action towards increased sales and better differentiation in their market.”
“Companies are drowning in data today and dedicating more resources -- both technology dollars and human capital -- to better understand and make use of it,” said Benedict Rocchio, Partner with Baird Capital and new board member of Crayon. “As a longtime active investor in the marketing technology space, Baird Capital saw the clear need for how Crayon's approach streamlines the vast amounts of data with a single source of truth for all competitive insights. Jonah and the Crayon leadership team have a proven track record of building marketing tools that simplify this level of complexity at scale. They are putting marketers in the enviable position of offense, pursuing ideas they know will work and mitigating the risk of being blindsided by a competitor.”
Crayon leads the competitive intelligence software category - recognized by Forrester Research in their New Wave as the Leader in Market and Competitive Intelligence Platforms, and consistently a leader among multiple categories in G2, based on thousands of reviews by real customers. Based in Boston, the company has nearly 100 employees and expects to double headcount over the next 12 months.
About Crayon
Crayon is the leading competitive intelligence platform that enables businesses to track, analyze, and act on everything happening outside their four walls. More than 33,000 Competitive Intelligence professionals rely on Crayon for a current, holistic view of their business to win sales, save time and costs, and develop long-term revenue and relationships. Based in Boston, Crayon is empowering mid-market and Fortune 500 companies every day with actionable insights to win. For more information go to https://www.crayon.co.
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 320 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe, and Asia, a proactive portfolio operations team, and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit BairdCapital.com.
[1] Gartner: “The Sad State of Differentiation for Technology Providers and What to Do About It”
[2] CSO Insights: “The 2018-2019 Sales Performance Report”
Contacts
Kerry Walker
kerry@walkercomms.com
WEBINAR Join us for SPAC Investing 101: A Guide to Wall Street's Hottest Asset Class
Panel at the Planet Microcap Showcase Conference features leading SPAC practitioners
Our expert panel of industry insiders has observed firsthand what makes for a successful SPAC deal, and I can’t wait to hear what they have to say.
Marcum Bernstein & Pinchuk LLP (MBP) invites you to attend a panel on "SPAC Investing 101: A Guide to Wall Street's Hottest Asset Class" at the Planet MicroCap Showcase conference.
The panel is scheduled for 9 a.m. Eastern time on April 20, 2021, and will also be available on replay after the event. Interested parties can register for the free event here.
Register for Free Today
“SPACs have taken the IPO investment world by storm during the pandemic as high profile, and celebrity sponsors, high-flying tech companies, and retail investor enthusiasm have sent many SPAC stocks soaring,” said MBP Co-Managing Partner Drew Bernstein. "After a record year of issuance in 2020, new SPACs have dominated the U.S. IPO market in Q1 2021, with 298 deals raising $87 billion. SPACs have gone from an arcane financing vehicle to a mainstream alternative for high-growth private companies seeking to raise capital and attain public status."
Panel Moderator:
Drew Bernstein, Co-Managing Partner, MBP
Panel Speakers:
Jay Heller, Head of Capital Markets, NASDAQ. Where he has been keeping very busy with this massive surge in SPAC IPOs.
Jay has worked on major Wall Street trading desks at Pershing, American Capital Markets, and other firms before heading Capital Markets for the NASDAQ.
Connect with Jay on LinkedIn
George Kaufman, Partner and Head of Investment Banking, Chardan Capital Markets. One of the early pioneers of the SPAC format and has continued to be highly active in underwriting new SPAC IPOs from the U.S. and other parts of the world, as well as managing the SPAC merger and PIPE process that it takes to get these deals to close.
Connect with George on LinkedIn
Mitch Nussbaum, Vice-Chair, Loeb & Loeb. Where he runs a very active team with SPACs, traditional IPOs, direct listings, and PIPEs and someone who has his finger on the pulse of the latest structures and deal terms.
Connect with Mitch on LinkedIn
Peter Bordes, Founder, Managing Partner, Trajectory Capital. A veteran venture investor, entrepreneur and CEO who led the IPO of Kubient last summer on the NASDAQ, and has now founded Trajectory Capital, which has recently filed their first SPAC with the SEC and has plans to take disruptive tech companies from seed funding to public listing on an accelerated basis.
Connect with Peter on Be/PeterBordes
Recent volatility in the sector serves as a reminder that SPACs are complex investment instruments, with varying risk levels at each phase of their lifecycle and multiple strategies that sophisticated investors employ to lock in gains. This panel will present industry insiders' perspectives who have observed firsthand what makes for a successful SPAC deal. If you want to make sense of and profit from the SPAC boom, this panel is a must-attend event.
The panel will explore topics including:
- What has led to the recent explosion in the number of SPAC IPOs and larger deal sizes?
- What are the various phases in the SPAC lifecycle, and what makes them attractive to different investors?
- How has the rise of celebrity SPAC sponsors and "SPAC factories" changed the game?
- Why are many venture-backed and growth companies now embracing SPACs as an attractive way to go public?
- "What issues determine if a SPAC will be successful as a public company once the merger closes, including financial reporting and investor relations?"
About MBP
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TripleLift acquired for $1.4 billion by Vista Equity Partners
We are thrilled to be a part of the journey of one of the largest transactions in the history of ad tech, and an awesome outcome for the founding leadership team Eric Berry, Ari Lewine, Shaun Zacharia, members of the team, shareholders, and digital advertising industry.
TripleLift announced today that a majority stake of the company will be acquired by Vista Equity Partners, a leading private equity firm focused on software, data, and technology-enabled businesses. Vista’s involvement will accelerate global growth and further drive product innovation for TripleLift.
A big shout out to Jeffrey Silverman and the Laconia Capital Group team for managing our co-investment in the mighty TripleLift!
- [Read the email] sent to all TripleLift employees immediately following an all-hands meeting where Co-Founder and CEO Eric Berry announced the acquisition of the company by Vista Equity Partners.
AdTech Leader TripleLift Announces Majority Investment from Vista Equity Partners
Partnership to Accelerate Global Product Expansion and Innovation in CTV
NEW YORK, March 29, 2021 /PRNewswire/ -- TripleLift, one of the largest advertising technology platforms in the world, announced today it has signed a definitive agreement to receive a majority investment from Vista Equity Partners. Vista, a leading global investment firm focused on enterprise software, data and technology-enabled businesses, will help drive further innovation across TripleLift and accelerate global growth.
"We have developed into a leader in the advertising technology space and are excited about our next chapter," said Eric Berry, Co-Founder and CEO of TripleLift. "When looking for an investment partner, we placed a premium on a deep understanding of ad tech and a willingness to lean into developing our portfolio of innovative, high-growth products. Vista is that partner."
Founded in 2012, TripleLift is driving the next generation of programmatic advertising by inventing new ad formats and building two-sided marketplaces that deliver monetization to publishers around the world. The company rose to prominence as the leader in Native programmatic advertising, expanded its offerings to display and video, and is now commercializing breakthrough products in Connected TV. TripleLift works with over 80% of the comScore 100 publishers, 100% of the Top 20 Demand Side Platforms (DSPs) and 100% of the AdAge Top 100 advertisers. Last year, TripleLift handled over 40 trillion ad transactions across desktop, mobile and connected television.
"TripleLift is a next generation ad tech company that has successfully identified and developed multiple new markets since its inception," said Michael Fosnaugh, Co-Head of the Vista Flagship Fund and Senior Managing Director. "In each case, they have created unique value to an entire ecosystem of companies, including brands, publishers, and partners, and we are thrilled to be working with Eric and the team to further scale their business."
"Vista is pleased to partner with TripleLift and we have a tremendous runway for growth," said Rod Aliabadi, Managing Director at Vista Equity Partners. "We look forward to continued market leadership in programmatic, further catalyzing our opportunity in CTV and building upon our expansion into priority international markets across Europe and Asia."
The transaction is expected to close in the second quarter of 2021. Eric Berry will remain as CEO and will continue serving on the Board of Directors. True Ventures and Edison Partners, two early investors in TripleLift, will remain invested in the company.
Centerview Partners LLC is serving as exclusive financial advisor to TripleLift, and Goodwin Procter LLP and Reitler Kailas and Rosenblatt LLC are serving as legal counsel. JP Morgan is serving as financial advisor to Vista, and Kirkland & Ellis LLP is serving as legal counsel.
About TripleLift
TripleLift, one of the fastest-growing ad tech companies in the world, is a technology company rooted at the intersection of creative and media. Its mission is to make advertising better for everyone— content owners, advertisers and consumers—by reinventing ad placement one medium at a time. With direct inventory sources, diverse product lines, and creative designed for scale using Computer Vision technology, TripleLift is driving the next generation of programmatic advertising from desktop to television. As of January 2021, TripleLift has recorded five years of consecutive growth of greater than 70 percent. TripleLift is a Business Insider Hottest AdTech Company, Inc. Magazine 5000, Crain's New York Fast 50, and Deloitte Technology Fast 500. Find more information about how TripleLift is shaping the future of advertising at triplelift.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $73 billion in assets under management as of September 30, 2020. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, credit, public equity and permanent capital strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista's investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn @Vista Equity Partners, and on Twitter @Vista_Equity.