June SMB Software Venture Deals
Each month, we look at funding activity for startups serving the SMB space. See last month’s post here. To learn more about SurePath’s SMB software focus and our SMB Software Thesis, send us a message at info@surepathcapital.com.
The pace of venture deals slowed down in June, with ~ $450M invested across 41 completed deals, compared to over $725M invested across 64 completed deals in May.
Largest Deals
Utah-based Podium, which helps businesses manage reviews and communicate with customers online, raised $60M in the largest financing round of the month, led by IVP and including Accel, GV, and Y Combinator. The company has grown from five employees at the beginning of 2015 to more than 300 today and counts over 20,000 businesses as customers. According to CEO Eric Rea, the company’s annual recurring revenue increased from $12 million to over $30 million during 2017.
At SurePath Capital Partners we help startups raise the capital needed to become market leaders. When the time is right, we help our clients achieve profitable, deliberate exit strategies. We only work with startups in the SaaS, e-commerce, and marketplace segments. Across those segments we have a deep focus on companies serving the global SMB market.
As we continue to track SMB software raises, we will provide updates every month and every year, SurePath publishes a report on the State of SMB Software. Be sure to subscribe to our mailing list to stay in the loop.
Say hello: info@surepathcapital.com
