Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.
2013 funding summary:
- 62 companies raised $825 million
- Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million).
- October was the busiest month, with $177 million raised (mostly Xero’s $150 million)
- May was second highest with $91 million raised by 7 companies
Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised
$460 million. The chart below shows the quarter-by-quarter comparison for both years.
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More than $155 million raised by 14 companies
January — $57 million raised by 6 companies
February — $56 million raised by 5 companies
March — $42 million raised by 4 companies
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More than $205 million raised by 15 companies
June — $81.7 million raised by 6 companies
May — $91.5 million raised by 7 companies
April — $32 million raised by 2 companies
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More than $171 million raised by 22 companies
July — More than $63 million raised by 8 companies
August — More than $26 million raised by 6 companies
September — $82 million raised by 9 companies
More than $294 million raised by 17 companies
October— $177 raised by 6 companies
November — More than $87 million raised by 7 companies
December — More than $30 million raised by 6 companies
One of the competitors in the bill management space, doxo, announced that it had raised $3.5 million in new funding just before the holidays. The additional capital brings the Seattle-based startup’s total to $19 million.
doxo makes it easier for businesses and consumers to move toward more efficient, paperless financial management processes. The company includes Jeff Bezos and Open Table CEO Thomas Layton among its investors, and its cloud-based document storage and online payment system has been compared favorably to PayPal. Among doxo’s customers are AT&T, Sound Community Bank, Puget Sound Energy, as well as the State of Washington.
Additional investors include Mohr Davidow and Sigma Partners. doxo CEO Steve Shivers said that the additional funding will be used to help “accelerate growth” in 2014. Shivers co-founded doxo with Mark Goris in 2008.
doxo demoed its technology as part of the FinovateSpring 2011 show in San Francisco. See the company’s presentation here