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.
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
Hats off to eight Finovate alumni for winning spots on CNBC’s Disruptor 50.
2014 marks the second year of CNBC’s Disruptor 50 list. The selection credits companies for being “forward-thinking” and working to discover untapped markets en route to becoming “billion-dollar businesses.” Read more about CNBC’s selection methodology here
CNBC’s David Spiegel wrote:
“All of these companies entered traditional sectors and turned them upside down … It’s the power of a company to displace the established incumbents in its own industry, prompting a ripple effect throughout its economic ecosystem.”
See CNBCs inaugural Disruptor 50 here. The 2013 list included alums boku, CircleUp, Lending Club, and Wealthfront.