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
This post is part of our live coverage of FinovateFall 2013.
is our next presenter. They are making their way to the stage right now to debut their “credit card vault in the cloud.”
“In the world of online payments much is made of the fees that are charged by payment gateway providers. Very little is known about the relative performance of payment gateways. Lost transactions based on time outs/false declines/overly aggressive fraud filters can cripple a business. Spreedly sits at a unique juncture where we can share what we see across a range of gateways.”
Product Launch: September 2013
Metrics: Raised $420,000 in seed funding, 5 employees, 100 paying customers, & 30% month over month transaction growth
Product distribution strategy: Direct to Business (B2B)
HQ: Durham, North Carolina
Founded: January 2008
Presenting Justin Benson (CEO)
The full demo video will be available at Finovate.com in mid-September.