Category Archives: Accel

Startups Weekly: There’s an alternative to raising VC and it’s called revenue-based financing

Revenue-based financing is on the rise, at least according to Lighter Capital, a firm that doles out entrepreneur-friendly debt capital. What exactly is RBF you ask? It’s a relatively new form of funding for tech companies that are posting monthly recurring revenue. Here’s how Lighter Capital, which completed 500 RBF deals in 2018, explains it: “It’s an alternative funding model that mixes some aspects of debt and equity. Most RBF is technically structured as a loan. However, RBF investors’ returns are tied directly to the startup’s performance, […]

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Airbnb officially owns HotelTonight

Airbnb has completed its acquisition of the last-minute hotel booking application, HotelTonight, the company announced on Monday. The deal is Airbnb’s largest M&A transaction yet, and will accelerate the home-sharing giant’s growth as it gears up for an initial public offering. Airbnb reportedly began talks to acquire HotelTonight months ago, and finally confirmed its intent to acquire the business in early March. Reports indicated a price tag of more than $400 million; Airbnb declined to comment on the size of the deal. As part of the deal, […]

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CEO Jennifer Tejada just took PagerDuty public; we talked about the roadshow, the IPO and what comes next

PagerDuty debuted on the New York Stock Exchange today, and as we type, shares of the nine-year-old, San Francisco-based incident response software company are trading at nearly $39. That’s up more than 60 percent above their IPO range of $24 per share, which was itself adjusted from the range of $21 to $23 that had been expected earlier and gives the company a valuation of close to $3 billion. That’s an awful lot for a company whose software helps technical teams at 11,000 companies spot problems with […]

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Rasa raises $13M led by Accel for its developer-friendly open-source approach to chatbots

Conversational AI and the use of chatbots have been through multiple cycles of hype and disillusionment in the tech world. You know the story: first you get a launch from the likes of Apple, Facebook, Microsoft, Amazon, Google or any number of other companies, and then you get the many examples of how their services don’t work as intended at the slightest challenge. But time brings improvements and more focused expectations, and today a startup that has been harnessing all those learnings is announcing funding to take […]

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To fund Y Combinator’s top startups, VCs scoop them before Demo Day

Hundreds gathered this week at San Francisco’s Pier 48 to see the more than 200 companies in Y Combinator’s Winter 2019 cohort present their two-minute pitches. The audience of venture capitalists, who collectively manage hundreds of billions of dollars, noted their favorites. The very best investors, however, had already had their pick of the litter. What many don’t realize about the Demo Day tradition is that pitching isn’t a requirement; in fact, some YC graduates skip out on their stage opportunity altogether. Why? Because they’ve already raised […]

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Startups Weekly: What’s up with YC? Plus, mobility layoffs and Airbnb’s grand plans

Where to begin… Netflix darling Marie Kondo is hitting up Sand Hill Road in search of $40 million to fund an ecommerce platform, Y Combinator is giving $150,000 to a startup building a $380,000 flying motorcycle (because why not) and Jibo, the social robot, is calling it quits, speaking to owners directly of its imminent shutdown. It was a hectic week in unicorn land so, I’m just going to get right to the good stuff. Changes at Y Combinator Where to begin! Not only did the prolific […]

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The Silicon Valley exodus continues

For a long time, it was the norm for founders to haul their hardware to the 3000 block of Sand Hill Road, where the venture capitalists of “Silicon Valley” would be awaiting their pitches. Today, many of the investors that touted the exclusivity of “The Valley” have moved north to San Francisco, where they have better access to top entrepreneurs. Y Combinator, a Silicon Valley institution and to many the lifeblood of the startups and venture capital ecosystem, is the latest to pack up shop. YC, which […]

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How students are founding, funding and joining startups

Shawn Xu Contributor Share on Twitter Shawn Xu is a managing partner at The Dorm Room Fund. There has never been a better time to start, join or fund a startup as a student.  Young founders who want to start companies while still in school have an increasing number of resources to tap into that exist just for them. Students that want to learn how to build companies can apply to an increasing number of fast-track programs that allow them to gain valuable early stage operating experience. […]

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Humio raises $9M Series A for its real-time log analysis service

Humio, a startup that provides a real-time log analysis service for on-premises and cloud infrastructures, today announced that it has raised a $9 million Series A round led by Accel. It previously raised its seed round from WestHill and Trifork. The company, which has offices in San Francisco, the U.K. and Denmark, tells me that it saw a 13x increase in its annual revenue in 2018. Current customers include Bloomberg, Microsoft and Netlify . “We are experiencing a fundamental shift in how companies build, manage and run […]

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Pia d’Iribarne joins Stride.VC as third partner

It turns out Stride.VC isn’t going to focus exclusively on the U.K. after all. Pia d’Iribarne is leaving Accel to join Stride.VC as a partner. Stride.VC was originally co-founded by former Accel partner Fred Destin along with Harry Stebbings, producer of “The Twenty Minute VC” podcast. Back in October, when TechCrunch’s Steve O’Hear covered the official closing of the £50 million fund, the pair said that they would focus on the U.K. at first. Arj Soysa also joined the firm as operating partner around the same time. […]

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