Taking Part in Our City

Below is an email I sent to the Mattermark team earlier today. I thought it would be good to share with a broader audience, as I hope all San Francisco residents will register to vote and exercise their right to vote in the coming election.

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Mattermark Team,

Unless you’ve been living under a rock in the Bay Area, you have experienced our city’s growing pains first hand. You’ve experienced the absurd rent prices, the gentrification, and the countless conversations about the technology industry’s hand in this whole mess. As I sat in the airport last week, I read an article on The Bold Italic titled “An Open Letter to Anyone Moving to San Francisco for a Tech Job.” The author, Dan Moore, pointed out how so many of us, in the technology industry, live in this city passively. I encourage you to read it and make up your mind.

For me, this article was the straw that broke the camel’s back. I’ve been guilty of not using public transit enough (I BART to and from work almost every day now), not getting involved in my community, and I also haven’t voted every year I’ve been here (I did last year). More than anything though, I am deeply guilty of sitting on the sideline airing my frustrations over rent prices and tech-directed hate without actually doing anything to fix the problems we face.

There is a myriad of opportunities to get involved and make San Francisco a better place, but one of the most important ways is to exercise our right to vote. While I don’t agree, I understand how it’s easy to feel like your vote doesn’t matter in national elections. In November of 2014, 231,214 people turned out to vote in San Francisco. That means only a little more than 2,000 people can move the needle by a whole percentage point. Our votes matter a lot in this city.

I’m not asking you to vote one way or the other, but I am begging you to please register to vote. In accordance with California Elections Code 14000, “Voters may take time off at the beginning or end of a shift to allow for sufficient time to vote, with up to two hours of that time being with pay.”

San Francisco residents can register to vote here. Election day is a month away, so if you need to renew or get a CA Driver’s License, you should make an appointment at the DMV now!

Additionally, I recommend each of you research what you’re voting for using the City & County of San Francisco’s Department of Elections’ website.



© Mattermark 2015. Sources: Mattermark Research, Crunchbase, AngelList.

Q3 2015 Saw $21.9 Billion of U.S. Private Company Funding, Pace Shows No Signs of Slow Down in Q4

This post is part of our Startup Funding Benchmarking Series exploring the allocation, concentration, and macro trends in the financing of high growth startups.

While public markets ended the quarter in a struggle to rally off 52-week lows, private investment has continued to flow with the quarter-end mark of $21.9 Billion dollars deployed to U.S. private companies at the 2nd highest level since the beginning of 2010. Our original pace mark, based off activity in the first 4 weeks of the quarter, suggested funding levels would reach $21.6 Billion and we were pleasantly surprised to see our forecast off by just 1.4% below actual.


Based on the past 4 weeks of funding announcements which totaled $7.7 Billion, if Q4 funding activity were to continue at the current pace the total capital deployed would be $23.1 Billion. This is just shy of the record high quarter set in Q2 2015 at $23.3 Billion.

Looking for resources to help you research startups and venture capital? Sign up for a free trial of Mattermark Professional to access the underlying data for these graphs, as well as in-depth profiles of more than one million high growth companies. Join the leading buy-side and sell-side deal professionals in using our tools to prospect the world’s fastest growing companies.

© Mattermark 2015. Sources: Mattermark Research, Crunchbase, AngelList.

What happens when you Mattermark the Pioneer 250?

TLDR: Some quick analysis of GSV’s Pioneer 250, using Mattermark data. If you want to do deeper analysis of the companies on their list, sign up for an account.

Earlier this week, I came across Li Jiang’s thoughtful piece (“Global Silicon Valley Pioneer 250”) about the next 250 unicorn companies. In it, he lists the Pioneer 250 candidates – a collection of startups and growing private companies that have the potential to yield billion dollar valuations sometime in the near future.

As I looked through candidates, I started to wonder a bunch of different questions: How many of those future unicorns are B2B and B2C companies? What does the industry and financing breakdown look like? Where are these companies? And what are the fastest growing companies in the set? All questions that would benefit if I had additional data points on each of these amazing companies. Being the data nerd I am, I powered up Mattermark and dug in. Let’s take a look.

Overall Findings:

  • GSV Capital invested in 20 of the Pioneer 250 companies
  • 39 of the companies went through Y Combinator
  • 7 of the companies went through 500 Startups
  • The average Pioneer 250 company is 6 years old. Youngest being Livongo Health (1 year) and Oldest being Nantero (16 years)
  • Collectively, these future unicorns have raised $16B with the average amount raised ~ $70M*

Funding numbers only account for companies that had publicly raised money


Most Companies are in Finance, Security, Enterprise Software, Healthcare, and Hardware

Pioneer250Stuff.003Fastest Growing Companies (Growth Score) by Industry


Substantial Number of Pioneer 250s have Raised Series B


Bay Area Leads the Herd


There are plenty of questions we could answer with this data set. To conduct your own in-depth analysis, sign up for a free trial of Mattermark Pro.


© Mattermark 2015. Sources: Mattermark Research, Crunchbase, AngelList.

The 40 Fastest Growing Startups, Revisited – and 42 More

In this post, we revisit the previous list of companies we identified as the fast growing startups poised to raise funding in May 2015. We’ve updated the list with the same search criteria and found 42 new companies that may be ready for funding today.

To get this spreadsheet of companies, go here.

On May 18, 2015, we published a spreadsheet with the 40 fastest growing startups that were likely to raise money. The startups, at the time, were on the list based on this criteria:

  • At least 15% month over month headcount growth
  • A Mattermark Growth Score greater than 400
  • No funding in the previous 6 months (December 2014 – May 2015)
  • Based in the United States
  • Not acquired or exited

After four months, we’re revisiting this list of companies to see how they’ve performed. Some questions to answer:

  • Which companies have raised funding?
  • Which companies have decreased or increased in month over month headcount growth?
  • Which companies dropped below a Growth Score of 400?

These 9 Companies Raised Funding Since May9 funded companies

As you can see, some of metrics that made these companies eligible for the original list have gone up or down. Only Amplitude and Bugsnag have maintained a 15% or greater employee month over month headcount growth. For any company, that’s impressive! The median amount of funding raised by these companies is $14.9M, with the four of these companies raising a Series A, three raising a Series B, and one raising a Series C.9 funded companies.jpg.001All nine of these companies have maintained a Growth Score above 400, whereas 11 startups from the original list have dropped below 400. The Growth Score is calculated with our Mindshare Score, which quantifies metrics from app downloads, social media traction, website traffic and press mentions, in addition to number of employees and capital raised over time.

The 11 Companies That Dropped Below A Growth Score of 400

11 companies dropped below 400

With these companies, you can see that their employee growth has gone from 15% month over month growth to 13% or below. The drop in Growth Score and employee growth may be an indicator that these companies are slowing down, overall. Many factors can contribute to this, so we recommend doing further research before crossing them off your own list.

These 34 Companies Have 14% or Less Month Over Month Headcount Growth

34 Companies Have 14

Even with the majority of these companies with a Growth Score over 400, employee growth month over month has gone down since May 2015. This metric is an important one to consider when analyzing your Mattermark search results because employee month over month growth can be a sign of a company’s health. A positive or negative percentage can represent has the potential to reflect the company’s trajectory. Maybe they’ve raised an unannounced round of funding if their employee growth is above 20% month over month. A negative percentage may signal slowing overall company growth on the curve of success. Again, with any company, many contributing factors impact the employee growth, Growth Score, potential for funding, and other metrics that Mattermark tracks.


Here’s 42 More High-Growth Startups Likely To Raise Money Soon

Now that we’ve revisited that list, let’s look at the companies that may be ready to raise funding, today. Based on the same criteria as before, the list has grown from 40 companies to 42. They all have a Growth Score at or above 400, have an employee month over month growth of 15%+, and have not raised funding in the past 6 months.

Get the spreadsheet of 42 companies

© Mattermark 2015. Sources: Mattermark Research, Crunchbase, AngelList.

Q3 U.S. Startup Funding Pace Holds Steady, Investors Deploying $250M Per Day on Average

This post is part of our Startup Funding Benchmarking Series exploring the allocation, concentration, and macro trends in the financing of high growth startups.

Market volatility continues, and the FOMC decision to wait on raising interest rates appears to have brought short-term relief. While many investors say they are in “wait and see” mode, deal-making that was already underway continues and our forecast for Q3 climbed another $100M over the past 2 weeks to $20.5B (for context our initial estimate as of August 31st was $21.6B).


Since our previous update on funding pace on September 8th, we have detected 75 new funding rounds totaling just over $2B for an average of $250M per day in capital deployed to private companies in the United States. Q3 is shaping up to be down just slightly from Q2 total funding numbers, but overall the upward trend continues as deal that were already in the works continue to be announced. Overall, the effects from public market swings are more likely to be seen playing out in the new quarter.

Looking for resources to help you research startups and venture capital? Sign up for a free trial of Mattermark Professional to access the underlying data for these graphs, as well as in-depth profiles of more than one million high growth companies.

© Mattermark 2015. Sources: Mattermark Research, Crunchbase, AngelList.

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