May 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 picked up again in May, with over $725M invested across 64 completed deals, compared to ~ $500M invested across 40 completed deals in April.
Largest Deals
May’s largest raise involved Atlanta-based Rubicon, which uses software to manage competitive bids from thousands of independent waste haulers and optimize the waste collection process in order get small businesses the best possible deal for waste collection solutions. Often referred to as the “Uber for trash”, the company raised $117M from investors including NZ Super Fund, New Zealand’s $38B sovereign wealth fund, which has historically only directly invested in U.S. businesses 5 times.
Here are the largest raises from last month:
Conclusion
Overall, May represented another very active month for SMB Software venture deals. 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.
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. Say hello:info@surepathcapital.com
