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.

Apr
22
2018
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Slite raises $4.4M to create a smarter internal notes tool

Slack exposed the demand for a dead-simple internal communications tool, which has inspired a wave of startups trying to pick apart the rest of a company’s daily activities — including Slite, which hopes to take on internal notes with a fresh round of new capital.

Slite is more or less an attempt at a replacement for a Google Doc or something in Dropbox Paper that is sprawling and getting a little out of control. An employee might create a Slite note like an onboarding manual or an internal contact list, and the hope is to replace the outdated internal wiki and offer employees a hub where they can either go and start stringing together important information, or find it right away. The company today said it has raised $4.4 million in a new seed funding round led by Index Ventures after coming out of Y Combinator’s 2018 winter class. Ari Helgason is joining Slite’s board of directors as part of the deal.

“We now have to develop this product enough to show we can actually replace large amounts of things,” co-founder Christophe Pasquier said. “Today we have more than 300 active teams, and we have to show that we can make it scale. In the short term is just we’re replacing Google Docs because these tools ahven’t evolved and we’re bringing something super fresh. The longer-term vision of really bringing all the information that has value from a team and becoming this single source of truth for teams.”

Slite tracks permissions and changes to the notes in order to allow companies to do a better job of maintaining them, rather than sharing around links and having different people jump in and make changes. The part about sharing links is one in particular that stung for Pasquier, as even larger companies can have issues with employees asking in Slack what policies are — or even for links to parts of the internal wiki where that important information is buried.

Getting there certainly won’t be easy. Companies like Dropbox continuing to invest in these kinds of collaborative note-taking tools — that could easily evolve into internal hubs of information. And as Pasquier tries to liken the development arc to Slack, which showed employees wanted some more seamless tool for communication, that company is also working on making its search tools smarter, like helping employees find the right person to ask a question. It doesn’t look like an asynchronous notes tool just yet, but if all the information is somewhere in Slack already, a smart search tool may be the only thing necessary to find all that information.

Feb
06
2018
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Slab raises $2.2M to build tools for an internal employee information nexus

 When Jason Chen first ended up at Salesforce through the acquisition of his last company Stypi, he had the tough task of integrating within Salesforce’s complex infrastructure — and not a lot of documentation to go on. Fortunately, Chen’s company had just been acquired and he was able to get the attention of the higher-ups and find that information, which was actually… Read More

Feb
02
2018
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Slite looks to build a new smarter notes tool for internal teams

 If you’ve ever tried to collaborate on a document (or any kind of note, really) with coworkers or anyone else, you’re probably using something along the lines of Dropbox Paper or Google Docs — but they don’t quite have the same team-focused simplicity as, say, Slack, if you ask Christophe Pasquier. That’s where Slite, a new notes tool that’s specifically… Read More

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