Top Seed Companies: DrHouse, Coverdash, Spatial Labs, Skillit, CommonGround
Our Investor Nicolas von Blottnitz shares the top-seeded companies to keep an eye on this week.
We see about 5,000 startups each week, and we want to give you a glimpse into how we at Headline think about trending tech companies and tracking new investment opportunities. In this post, we’re highlighting top tech companies that have announced or raised a seed round within the past week.
DrHouse
EVA Growth Index:
Product:
Consumer app that lets you see a doctor in minutes and get medication delivered to your door
Lead Investors:
Undisclosed
Total Raised:
$1M
Comparables:
Zocdoc, Teladoc
Our Thoughts:
There is too much friction in existing telehealth solutions to see a doctor. In the same way that Zoom won by making it one click to enter a video conference, DrHouse might be able to win in this relatively established category.
Coverdash
EVA Growth Index:
No external sources showing growth
Product:
Business insurance for freelancers, e-commerce merchants, and small business owners
Lead Investors:
Bling Capital
Total Raised:
$2.5M
Comparables:
Thimble, Next Insurance, Hiscox
Our Thoughts:
With the boom in US 1099 workers/freelancers and the ever-rising penetration of e-commerce, a significant class of new professionals require business insurance. We wonder if Coverdash only looks to be a customer acquisition portal and re-insure the risk, or if they have a unique underwriting model that will enable them to win against traditional insurance behemoths.
Spatial Labs
EVA Growth Index:
No external sources showing growth
Product:
Hardware-enabled blockchain infrastructure that lets fashion designers put tiny hardware pieces into their items to authenticate that the item is authentic
Lead Investors:
Blockchain Capital, Marcy Venture Partners
Total Raised:
$14M
Comparables:
Everledge
Our Thoughts:
This is like an open-source dog tag for fashion. The main friction point we see here is that the hardware might give up before the product, but that seems solvable in the long run.
Skillit
EVA Growth Index:
No external sources showing growth
Product:
A professional network for skilled trades
Lead Investors:
Building Ventures
Total Raised:
$5.1M
Comparables:
LinkedIn for craft recruitment
Our Thoughts:
There is a major lack of transparency in the trade sector, which could be solved by a central platform that showcases the accolades of skilled builders. With every part of society living on their smartphone, it is inevitable that a platform like this will evolve.
CommonGround
EVA Growth Index:
No external sources showing growth
Product:
Online marketplace to discover, lease, and buy farmland
Lead Investors:
AgFunder, The Peoples Company
Total Raised:
$3M
Comparables:
LandLease, Tillable
Our Thoughts:
A massive market with very little transparency. Only a matter of time before a digital platform will aggregate the incredibly fragmented supply here, increasing land value as a whole as it drives great liquidity.
Hi, I am Nicolas von Blottnitz, an Associate at Headline’s SF office focusing on Consumer, Fintech, and SaaS businesses. Since joining in 2018, I have led our investments in Tabnine, Polygon, Flockjay, Solid, and Grin.
What is the EVA Growth Index?
The EVA Growth index is a composite of third-party data sources around a company’s website traffic. The vertical green lines in the charts represent a point in time where the company raised outside capital.
