curtsy 11m series venturespereztechcrunch has been a VC for over 11 years, and has a deep understanding of the technology, startup, and venture markets. As a result, she is in an excellent position to help entrepreneurs build their companies. According to a recent interview, she is seeking to make new investments in high-growth startups.
Beam Impact raises $13.3 million in Series A funding
In October, Beam Impact raised $13.3 million in Series A funding from Index Ventures and Ulu Ventures. This brings the company’s total to $15.4 million. The startup combines consumer and brand power to support high impact nonprofits and raise awareness about social issues.
Beam is a B2B2C platform that helps consumers donate online spending to a cause of their choice. It works with over 500 organizations and enables customers to track the impact of their purchases towards a real goal. Consumers are able to support their favorite causes through their favorite retailers and brands.
As Beam grows, its team is also growing. Viveka Hulyalkar, CEO and co-founder, is a former McKinsey consultant and Tinder iOS engineer. She was inspired to launch the startup after realizing that brands were investing in problems she cared about.
The company’s mission is to shift $10 billion from brands to high-impact nonprofits. To date, Beam has partnered with more than 100 leading brands. Additionally, Beam is working with over 500 nonprofits.
Curtsy’s go-to-market strategy was focusing on Gen Z women
Curtsy is an app that aims to make it easier to buy and sell clothes. It caters to Gen Z women and is a competitor to Poshmark. The company has raised $14.5 million in funding to date.
As part of their mission to simplify the reselling process, Curtsy has developed a machine learning algorithm that helps merchandise items. They also provide shipping kits to sellers, which allow them to package and ship orders from their own homes. Previously, sellers had to manually fulfill orders or ship their own products.
Curtsy has a small user base, but it is growing rapidly. In the month of October 2020, Curtsy users sold 85,000 items. This represented a 35% increase from September.
Curtsy is an iOS-only app. Users typically spend about three transactions per month. To help sellers, the company provides branded supplies. When a seller lists an item, Curtsy recommends prices and helps clean up listings. The company also moderates spam, which is a big concern among reselling platforms.
Index’s new fund name pays homage to the firm’s origins as a seed fund
Index Ventures is a London and San Francisco based multi-stage firm that specializes in the fintech and e-commerce sectors. They are known for their forays into artificial intelligence and mobile. The firm has also been keeping a close eye on the cryptosphere. This year, they’ve made two investments in the cryptocurrency space.
Despite the downturn, they’ve kept up with their game plan and continued to fund startups. In their XI fund, they’ve raised a whopping $900 million. Not to be outdone, their newest fund, the Seed, will invest $200 million in pre-seed and seed stage companies around the globe. They have also bolstered their ranks with the hire of a partner in Tel Aviv. Founded in 2009, they have a hefty btw, which is the reason they are able to make such splashy moves.
In addition to its XI fund, they also made their way across the pond, launching an office in New York. For an aspiring entrepreneur, this is a good time to start. Their new offices will give founders access to a wealth of information, connections, and the requisite funding.