Jun
13
2018
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Managed By Q acquires NVS to offer space planning and project management

Managed by Q, the office management platform based out of NYC, today announced its acquisition of NVS.

Founded by Jason Havens in 2011, NVS is an office space planning and project management service, helping businesses plan their moves or office redesigns from start to finish. The company helps connect with a network of brokers, architects, interior designers, etc. and manage the project on behalf of their clients to ensure it stays on schedule and doesn’t end up costing more than expected.

For Managed by Q, NVS provides an added service layer for existing clients, and has the opportunity to bring new clients into the Managed by Q fold.

This marks Managed by Q’s second acquisition, as the company acquired task management software provider Hivy in September 2017.

Managed by Q, founded in 2014, has raised more than $70 million by providing software to help office managers do their job. From IT support to cleaning to office supplies, Managed by Q offers a centralized ‘operating system’ that connects office managers to various vendors and services.

The acquisition of NVS helps broaden Q’s product portfolio, while bringing in yet another revenue stream. NVS already has a proven record of success, serving more than 100 clients including big names like CBS Radio, the NBA Players Association, Glossier, Grovo, and Intent Media.

The terms of the deal were not disclosed, but Teran confirmed that the entire NVS team would be joining MBQ as part of the deal.

May
29
2018
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Startup studio eFounders is gaining some serious traction

European startup studio eFounders is slowly but surely building a portfolio of successful software-as-a-service startups. The company is behind some of the most promising enterprise startups in recent years.

Over the past six months, six eFounders startups have raised $120 million in total, with Front and Aircall leading the pack with a $66 million and a $29 million round. Spendesk raised $9.9 million. Forest, Slite and Station raised seed rounds.

Some of them also attended Y Combinator’s most recent batch. Finally, Technicis acquired TextMaster for an undisclosed sum.

If you don’t know the eFounders model, it’s quite simple. At first, the core eFounders team comes up with an idea and hires a founding team. In exchange for financial and human resources, eFounders keep a significant stake in its startups.

After a year or two, startups should have proven that they can raise a seed round and operate on their own. This way, eFounders can move on to the next project and start new companies.

eFounders currently lists 14 companies on its website. In addition to the ones I already mentioned, there is Mailjet, Mention, Foxintelligence, Forest, Hivy, Folk, Upflow, Briq and Illustrio.

Based on this list, you’d think that eFounders has a nearly perfect track record. But eFounders had to stop a couple of projects, such as PressKing and Muxi. Illustrio seems to be on pause right now as well.

Nevertheless, it’s clear that eFounders has cooked up a secret playbook for software-as-a-service startups. More importantly, it’s also clear that eFounders managed to attract some talented entrepreneurs to lead those startups and transform them into their own startups.

Overall, eFounders companies have raised $175 million in total, have 100,000 clients and 500 employees. Together, they generate $50 million in revenue. eFounders itself has raised $11.4 million.

It’s going to be a long play for eFounders as the company only generates revenue when there’s an exit or a secondary market transaction. As long as startups keep raising more money, eFounders doesn’t get anything, and its stake gets diluted. It’ll only make money when there’s a significant acquisition or an IPO. But the valuation of eFounders’ portfolio also keeps growing, so the outcome looks more and more positive.

Sep
26
2017
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Managed By Q, the office management system, acquires Hivy

 Managed by Q, the platform that helps office managers handle day-to-day operations, has made its first acquisition, picking up Y Combinator graduates Hivy for an undisclosed amount.
Managed By Q lets office managers book cleanings, handy work, IT help, and order office supplies thanks to a partnership with Staples. MBQ has raised upwards of $72 million and now serves New York, Chicago, San… Read More

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