$680 Million Raised by 29 Alums in Q1 2015

cartoonmoneystackThe biggest surprise in our look at first-quarter funding is that the $677 million amassed by 29 Finovate alums was more than 20% of the $3.2 billion invested in the entire worldwide fintech sector.

The $677 million raised was $85 million (+14%) above the same quarter a year ago, and more than triple the first quarter of 2013.

Q1 2015 was also $133 million above the $544 million mark set in the fourth quarter of 2014.

It will be worth watching to see if this record-setting first quarter for Finovate alum fundraising will be a sign of more great things to come for capital-raising in 2015.

Top 10 Overall Investments

  1. Xero: $111 million in February
  2. Coinbase: $75 million in January
  3. Betterment: $60 million in February
  4. TransferWise: $58 million in January
  5. App Annie: $55 million in January
  6. Ayasdi: $55 million in March
  7. Motif Investing: $40 million in January
  8. Ripple Labs: $30 million in January
  9. Bill.com: $50 million in February
  10. Pindrop Security: $35 in February

Previous Quarterly Comparisons

  • Q1 2015: More than $676 million raised by 29 alums
  • Q4 2014: More than $544 million raised by 25 alums
  • Q1 2014: More than $600 million raised by 8 alums
  • Q1 2013: More than $155 million raised by 14 alums

January: More than $275 million raised by 14 alums

February: More than $264 million raised by 8 alums

March: More than $136 million raised by 7 alums

If you are an alum that raised money in the first quarter of 2015, and do not see your company listed, please drop us a note at research@finovate.com. We would love to share the good news! Funding received prior to becoming an alum not included.

Alumni News– January 14, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgPayPal Here to provide Windows support, previews EMV card reader.
  • App Annie raises $55 million in Series D round.
  • Andy Swan of LikeFolio quoted in Yahoo! Finance’s look at Amazon and Walmart.
  • Crowdfund Insider profiles Patch of Land.
  • Insurance Brokers Association of Ontario (IBAO) partners with Silanis to offer e-SignLive to its members.
  • WePay CEO Bill Clerico writes about the relationship between Bitcoin, ApplePay, and mobile payments in 2015.
  • Check out FinovateEurope 2015 Sneak Peek: Part 1.
  • Xero opens Payroll solution to SMBs in California, Florida, and Texas. Plans to be in all 50 states by end of 2015.
  • ShopKeep Pocket app launches with real-time reporting features.
  • Kreditech Acquires Kontomierz for “Seven Digit Amount”.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

App Annie Raises $55 Million in Series D Round

AppAnnieLogo.jpg

FinovateAsia 2013 alum App Annie has raised $55 million in Series D funding, taking the company’s total capital to $94 million.
The round was led by Institutional Venture Partners (IVP), and featured participation from current investors, Greycroft Partners, IDG Capital Partners, and Sequoia Capital. App Annie plans to use the capital for product development, international expansion, and to “fund potential M&A activity.” Note that App Annie acquired Distimo last year.
In addition to the funding, App Annie will gain a new board member, Eric Liaw, General Partner at IVP. Talking about the company, Liaw said in a statement: “Before App Annie, the app ecosystem was largely flying blind. App Annie provides actionable insight into this explosive sector of technology and, as a result, they are the ubiquitous standard for the app industry.”
Added App Annie co-founder and CEO Bertrand Schmitt, “App Annie now integrates app sales, search, advertising, demographics, and usage data into one unified, standardized platform. Any company that wants to remain relevant is now an app publisher, and we’re confident they will all need App Annie to move their mobile business forward.”
AppAnnie_homepage2014.jpg
Schmitt has a point. For many, when the question is app analytics and market data, the answer is App Annie. Since 2010, the company has become the one-stop-shop for business owners, technologists, and analysts looking to understand trends in the app market. To this end, a handful of metrics helps give a sense of the company’s presence in the industry:
    • More than 90% of the top 100 app publishers use App Annie’s technology
    • More than 675,000 apps use App Annie Analytics to track downloads
    • More than 79 billion downloads tracked, representing more than $24 billion in gross app store revenue to date
    • More than 75% year-over-year growth in user base to more than 350,000
App Annie’s product suite has three main offerings: Store Stats, Analytics, and Intelligence. Store Stats focuses on the app stores, tracking and recording the hour-to-hour performance of apps across categories and regardless of country. The Analytics platform helps app publishers collect and visualize important metrics such as downloads, revenue, rankings, reviews, and event tracking. The Intelligence component provides overall app market data. This can be used for everything from planning an entry into a new market, to studying the app performance of competitors, to analyzing app trends in popularity and revenue.
AppAnnie_UsageIntelhomepage.jpg
This leads to App Annie’s next product release: the launch of Usage Intelligence. Usage intelligence is a tool for enterprise users that provides mobile access to “active user and engagement trends” for thousands of apps around the world.
Usage Intelligence provides metrics on active users (MAU, WAU, DAU), time spent, usage frequency, and retention. Said Schmitt, “Usage data is of paramount importance to mobile app publishers and investors, particularly when you are talking about analyzing apps that monetize outside the store”.
In this way, Usage Intelligence is best viewed as an extension of the capabilities of App Annie’s Intelligence solution. The technology is currently in beta, with access limited to a few customers. The full release is scheduled for the second quarter of 2015.

Alumni News– December 12, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgQuantopian to offer fundamental equity data from Morningstar.
  • MicroStrategy to provide analytics solution to help developers build biometrical secured analytics solutions.
  • Banking Technology takes a look at the relationship between BBVA Compass and Dwolla.
  • Cointelegraph interviews AlphaPoint CEO Vadim Telyatnikov. See AlphaPoint at FinovateEurope 2015 in London.
  • Sedicii wins EY Startup Challenge. Come see them at FinovateEurope in February.
  • Forbes interviews Jacob Hansen, CrowdCurity co-founder.
  • Lifehacker awards Google Cloud with best cloud computing provider of 2014.
  • Check out the Finovate and FinDEVr alums listed in Currency Cloud’s list of hottest fintech companies.
  • FreeAgent selected by Lloyds Banking Group for new SME toolbox.
  • In 2014, VerifyValid eChecks delivered $370+ mil in payments to 100k+ payees, an increase of 20k registered users.
  • Finovate Debuts: TickSmith’s TickVault and FixVault Help FIs Put Their Big Data to Use.
  • Place2Give partners with Give A Mile to help them process cash donations.
  • VentureBeat interviews AppAnnie CEO, Bertrand Schmitt.
  • Apple Store Online Now Accepts PayPal In U.S. And U.K.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Alumni News– December 9, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCachet Financial Solutions to offer Mitek’s Mobile Photo Account Opening SaaS suite.
  • CrowdFlower CEO Lukas Biewald writes personally about the relationship between startups and their boards of directors.
  • Investor Junkie reviews roboadvisor, iQuantifi.
  • Knox Payments partners with ChangeTip to support bitcoin transaction via ACH.
  • CardNotPresent takes a look at Klarna’s US expansion plans.
  • Yodlee introduces transaction data enrichment service.
  • Fox News compares funding of Wealthfront, Personal Capital, Betterment, and SigFig.
  • Blackhawk Network’s closed loop gift cards available at some USPS locations.
  • VentureBeat: App Annie now tracks stats from Windows and Windows Phone stores.
  • SecondMarket wins 48,000 Bitcoin in U.S. Marshals auction.
  • Actiance extends security capabilities to email.
  • TechCrunch: Trustev Uses Fraud Detection Software to Crack Down on Internet Trolls.
  • Dashlane launches one-click password changer.
  • BehavioSec Lands $6 Million Led by Northzone and Octopus Investments.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Alumni News– December 4, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgIntelligent Environments awarded Fairbanking certification. See Intelligent Environments demo at FinovateEurope 2015 in February.
  • Xsolla partners with BitPay to bring bitcoin payments to gaming. See Xsolla at FinovateEurope in London.
  • MasterCard partners with Gates Foundation to launch innovation lab in Nairobi, Kenya.
  • App Annie unveils Audience Intelligence, a solution mobile app publishers can use to learn demographic data from users.
  • Access Development partners with Oklahoma Education Association.
  • Yueyu Fu, co-founder and CPO at Rippleshot interviewed at Benzinga Fintech Awards.
  • Intuit’s Quickbook Online Accountant is now available in the U.S.
  • Ripple to plug its real-time settlement protocol into Earthport’s payments hub.
  • Braintree is now rolling out its One Touch payment service outside the U.S.
  • eGift Card feature added to Wipit-powered Boost Mobile.
  • SocietyOne Closes Undisclosed Series B Funding Round.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Alumni News– October 31, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgRippleshot wins Up and Comer honors at Chicago Innovation Awards.
  • Vantiv announces agreement to provide merchant services to MUFG Union Bank.
  • Symitar division of Jack Henry introduces Malauzai-powered Episys Anywhere.
  • Breaking Banks interviews Derek Corcoran, Founder of Avoka.
  • App Annie releases new app, VPN Defender, published by Smart Sense.
  • Currency Cloud partners with XE.com to deliver money transfer solution for business.
  • Excess Return launches new Ideas Center and Screener modules in partnership with Keytrade Bank
  • Coinbase introduces Multisig Vault to enable companies to control their private keys on Coinbase.
  • Benzinga interviews Howard Lindzon on what’s next for StockTwits.
  • Quantcha enhances stock options search engine with integrated trading from Tradier.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Alumni News– September 17, 2014

  • Finovate-F-Logo.jpgCorrection: FreeAgent surpasses 2,000 customers in a single partnership deal.
  • Insuritas customer Denali Alaskan FCU increases revenue by 22% over the past 2 years from Insuritas solutions.
  • Cortera announces Cortera Score, a predictive risk measurement that extends the Cortera Pulse service.
  • App Annie expands mobile app analytics platform with analytics for Facebook Ads.
  • InComm partners with the Virginia Department of Transportation to launch the Virginia E-ZPass Reload Card.
  • Zooz and Alipay partner to give merchants access to Chinese customers.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alums Raise More than $600 Million for Second Quarter in a Row

Thumbnail image for FinovateFundingIMG.jpg

In the first quarter of 2014, 23 Finovate alums raised more than $592 million

And as the second quarter draws to a close, it’s clear that a comparable cohort of alums have kept the pace.

Over the course April, May, and June, 28 alums raised significant amounts of capital ranging from Gremln’s $100,000 to the $65 million raised by Lending Club. The quarterly total of $594 million is almost exactly the same as the previous quarter.

And given that some amounts are undisclosed (I’m talking about you, Holvi, RevolutionCredit, and Tuition.io), we’re confident that Finovate alums have notched their second $600 million fund-raising quarter in a row.
How does this compare with the less recent past? Very well, indeed. 
In the second quarter of 2013, 15 alums raised more than $200 million. This was a major improvement on the second quarter from 2012, which featured 14 companies raising more than $120 million. 
Total raised for Q2 2014 = $594 million
April — $217 million raised by 11 companies
May —  $226 million raised by 11 companies
June — $151 million raised by six companies

Note: Funding prior to becoming a Finovate alum not included. Questions? Comments? Email us at David@Finovate.com or Julie@Finovate.com

Finovate Alumni News– May 29, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgChina Loves Mambu: Microfinance Network Picks Cloud Banking Platform for SME Lending.
  • App Annie Acquires Distimo; raises $17 Million from Current Investors.
  • SumUp launches its own chip and PIN reader, PIN+, in Poland and Switzerland.
  • Credit Sesame launches mortgage rate marketplace.
  • DemystData brings in $5 Million for its Big Data API for financial institutions.
  • NHS Shared Business Services selects Tradeshift platform to enhance supply chain.
  • Actiance announces general availability of Alcatraz, a cloud-based, Context-Aware archive for email, social, and other communications.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.