The Venture Capital Funding landscape has changed.
Beyond shifts in funding round sizes and overall capital allocation by stage, where startups go to raise money is different than it was just a few years ago. Founders no longer need to make a trip to Sand Hill road to pitch VCs for money.
They can share details of their team, product, and traction online, raise money, and get back to shipping product all from their apartment (or office).
AngelList was one of the first platforms to make this possible. Nearly 5 years ago, someone asked Quora, “How are the AngelList funded startups doing so far?” We thought the time was finally right to analyze the startups that have raised rounds online through AngelList, and see what other insights we could find.
Top 10 AngelList Startups
AngelList reports that 565 startups have raised $160M online through their platform. Of those, 50 have raised online rounds of $500k or more.
Here are the top 10 startups that raised online rounds of $500k or more, ranked by the Growth Score:
- TransferWise — let’s people transfer money abroad easily and quickly with low cost money transfers. (Growth Score: 1518)
- Beepi — offers an online peer-to-peer marketplace for buying and selling used cars, where transactions can be carried out entirely with a smart phone or a PC. (Growth Score: 1506)
- Vulcun— hosts fantasy contests for spectators of “League of Legends” and other electronic sports. (Growth Score: 1494)
- Shyp — is the easiest way to ship anything. (Growth Score: 1218)
- Soothe — delivers hand-picked, background checked, certified & insured massage therapists to your home, office, or event space in 1 hour. (Growth Score: 867)
- Mattermark —helps dealmakers identify valuable opportunities to do business, with deal intelligence. (Growth Score: 671)
- PillPack — is an online pharmacy offering a modern technology-based system that helps people take timely medication. (Growth Score: 655)
- HoneyBook — is an invite-only event planning platform that helps creative businesses and their inspired clients collaborate on memorable experiences. (Growth Score: 639)
- RadPad — helps people find apartments and houses for rent for free, then pay rent using Apple Pay or a major credit card. (Growth Score: 608)
- Breeze — offers no-commitment leases on personal hybrid cars so you can start driving for services such as Uber and Lyft. (Growth Score: 576)
Additional AngelList Findings
- California still dominates. 8/10 fastest growing AngelList-funded companies are based in California. 1 is based in Boston and the other calls London home.
- $1,355,500. That’s the average amount these startups raised on AngelList. Their total funding, in addition to what they raised on AngelList, averages out to $35,966,900.
- The business model is not indicative of success. Among the top 10 companies, there is a 50/50 split between B2B and B2C companies.
- The startups’ headcounts are growing rapidly. On average over the last 6 months, the companies have added 41 employees and grown headcount by 111%. The average employee count for each startup is 75.
- 2013 is the year. 70% of the companies were founded in 2013. The remaining three were founded in 2012, 2011, and 2010.
- The funding stage leans towards Series A. 6 Series As. 3 Series Bs. 1 Series C.
Your turn
Have you, or anyone you know, raised money through AngelList?
We’re always looking for new insights here at Mattermark, and would love to get more juicy data from you. Tweet at us @Mattermark and let’s chat!