Total amount raised
$46.9 Millions
Latest funding date
7/1/2024
Location
Freshpaint has successfully raised $30 million in its latest Series B funding round, backed by investors such as Zero Prime Ventures and Intel Capital. The company offers a healthcare privacy platform designed to manage data and ensure compliance with HIPAA regulations.
Keep reading to explore the intricacies of Freshpaint's fundraising journey and the investors backing this innovative platform.
What Is Freshpaint?
Freshpaint, founded on January 1, 2019, is a San Francisco-based company specializing in data platforms for marketing and analytics. The company was established by Michael Malis and Steven Fitzsimmons.
Freshpaint's platform collects customer data from websites and apps, integrating it with marketing and analytics tools to automate tedious tasks. This allows engineering teams to focus on product development.
With a team of 51-100 employees, Freshpaint aims to streamline data collection and ensure compliance with privacy regulations, particularly in the healthcare sector.
How Much Funding Has Freshpaint Raised?
- Pre-Seed Round
- Amount Raised: $150K
- Date: August 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Freshpaint's data platform.
- Seed Round
- Amount Raised: $1.5M
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: $9.5M
- Date: November 2022
- Lead Investors: Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Debt Financing
- Amount Raised: $5M
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational expenses.
- Series B
- Amount Raised: $30.7M
- Date: July 2024
- Lead Investors: Threshold
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the healthcare privacy platform and enhance marketing capabilities.
Total amount raised: $46.85M. Current valuation: Not publicly disclosed.
Key Investors
- Threshold
- Details: Threshold is a venture capital firm that led Freshpaint's Series B financing round. They focus on helping companies innovate while maintaining consumer privacy.
- Investment Focus Areas: Healthcare, technology, consumer privacy.
- Notable Investments: Not publicly disclosed.
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation, focusing on technology companies that align with Intel's strategic interests. They participated in Freshpaint's Series A and Series B rounds.
- Investment Focus Areas: Technology, innovation, data platforms.
- Notable Investments: Not publicly disclosed.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding and mentorship to early-stage startups. They led Freshpaint's Pre-Seed round and continued support in subsequent rounds.
- Investment Focus Areas: Early-stage startups, technology, various sectors.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Zero Prime Ventures
- Details: Zero Prime Ventures is a venture capital firm that has been an existing investor in Freshpaint. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Technology, early-stage startups, innovation.
- Notable Investments: Not publicly disclosed.
- SignalFire
- Details: SignalFire is a venture capital firm that participated as a new investor in Freshpaint's Series B round. They leverage data and technology to support their portfolio companies.
- Investment Focus Areas: Technology, data-driven companies, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Freshpaint?
Freshpaint stands at the cusp of significant growth, with opportunities to expand its Healthcare Privacy Platform across a broad spectrum of healthcare organizations. The potential market is vast, encompassing hospitals, health insurance providers, pharmacies, and retail healthcare companies. This expansion could help these organizations optimize patient journeys while maintaining stringent privacy standards.
Future fundraising seems promising, given the successful Series B round and the involvement of high-profile investors. As Freshpaint continues to grow, it may attract additional investment to further enhance its platform and market reach. However, navigating the complex landscape of privacy regulations and ensuring compliance at both federal and state levels will be ongoing challenges.
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