Creoate, Bina, Correlated, Humanity, Torpago— 9th August, 2021
We see about 5,000 startups each week, and I want to give you a glimpse into how we at Headline think about trending tech companies and tracking new investment opportunities. In this post, I’m highlighting top tech companies that have announced or raised a seed round within the past week.
Creoate
EVA Growth Index:
Product:
Digital marketplace connecting wholesale sellers with boutique retailers for eco-friendly consumer products
Lead Investors:
Fuel Ventures
Total Raised:
$4.87M
Comparables:
PodFoods
My Thoughts:
Being investors in AllTrue (formerly Carewell) we learned how incredibly fragmented the eco-friendly consumer good space is from a supply chain perspective. With this being a significant growth market in the west, it makes all the sense in the world to build a digital marketplace to streamline its supply chain.
Bina
EVA Growth Index:
Product:
Germany-based digitally delivered primary education provider
Lead Investors:
Mistletoe
Total Raised:
$1.4M
Comparables:
FutureSchhol
My Thoughts:
Education is so underdigtized across the globe and I believe that technology has a ton of opportunities to innovate, improve, and further democratize access to it. We have seen the model take off in the US and I see no reason that it shouldn’t work in Europe as well.
Correlated
EVA Growth Index:
Product:
SaaS platform to accelerate product led-growth companies’ conversions from free to paid
Lead Investors:
NextView Ventures, Harrison Metal
Total Raised:
$8.3M
Comparables:
N/A
My Thoughts:
We love product-led growth businesses and naturally have encountered the issue of converting a large engaged user-base into revenue. Given how little resources there are available for CEOs and CROs to face this topic, I see a huge opportunity for Correlated.
Humanity
EVA Growth Index:
Product:
Consumer app that tracks and enables an individual to track their aging
Lead Investors:
Esther Dyson, One Way Ventures
Total Raised:
$5M
Comparables:
Apple Health
My Thoughts:
With all the data our health/wellness IoT devices collect it only seems natural that we start tracking our aging and consequently start managing it. Humanity could act as a true category creator here. I don’t see a world where this doesn’t exist by the end of the century.
Torpago
EVA Growth Index:
No external sources showing growth
Product:
Corporate card first expense management platform
Lead Investors:
Operate
Total Raised:
$3M
Comparables:
Expensify, Brex
My Thoughts:
Being an Expensify customer, I think there is still too much friction in filing expenses — like in a perfect world, I don’t need to do anything but spend the money. I also think that this market still stands primarily as a greenfield opportunity similar to where video-conferencing was in 2015, with a few large dominating players, yet only 10% TAM penetration.
Hi, I am Nicolas von Blottnitz, an Associate at Headline’s SF office focusing on Consumer, Fintech, and SaaS businesses. Since joining in 2018, I have led our investments in Tabnine, Polygon, Flockjay, Solid, and Grin.
What is the EVA Growth Index?
The EVA Growth index is a composite of third-party data sources around a company’s website traffic. The vertical green lines in the charts represent a point in time where the company raised outside capital.
