Total amount raised
$8.5 Millions
Latest funding date
03/01/2016
Location
NewCo has successfully raised funding through multiple rounds, with notable investors including John Battelle and True Ventures. The company continues to attract attention with its mission-driven approach to connecting people and businesses through forums and conferences.
Keep reading to explore the intricacies of NewCo's fundraising journey and the investors backing this innovative platform.
What Is NewCo?
NewCo, founded in 2012, is headquartered in San Francisco, California. The company operates in various industries, including advertising platforms, B2B, digital media, events, and small and medium businesses.
With a significant employee count ranging from 5001 to 10000, NewCo was established by a diverse group of founders, including Ali Safavi, April Downing, Arpan Shah, and John Battelle, among others. The company is known for organizing forums and conferences that connect people with mission-driven businesses.
How Much Funding Has NewCo Raised?
- Seed Round
- Amount Raised: $1.7M
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and product validation.
- Debt Financing
- Amount Raised: $700K
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for operational needs.
- Seed Round
- Amount Raised: $6.1M
- Date: March 2016
- Lead Investors: True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand event locations and develop new media products.
Total Amount Raised: $8.5M. Current Valuation: Not publicly disclosed.
Key Investors
- True Ventures
- Details: True Ventures is an early-stage venture capital firm that led the recent funding round for NewCo. They are known for their hands-on approach and support for innovative startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Fitbit, Peloton, Automattic (WordPress).
- Obvious Ventures
- Details: Obvious Ventures is a venture capital firm that focuses on investing in companies that aim to make a positive impact. They participated in NewCo's recent funding round.
- Investment Focus Areas: Companies with a positive impact on the world.
- Notable Investments: Beyond Meat, Medium, Olly.
- Transmedia Capital
- Details: Transmedia Capital is a venture capital firm that invests in early-stage technology companies. They were part of the investor group in NewCo's funding round.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Domo, Percolate, Snap.
- Bloomberg Beta
- Details: Bloomberg Beta is a venture capital firm backed by Bloomberg LP, focusing on early-stage investments. They have a strategic interest in leveraging Bloomberg's resources.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Codecademy, Newsela, Slack.
- John Battelle
- Details: John Battelle is the co-founder and CEO of NewCo, also an investor in the company. He has a rich background in media and technology startups.
- Investment Focus Areas: Media and technology startups.
- Notable Investments: Known for his role in launching Wired magazine and Federated Media Publishing.
What's Next for NewCo?
NewCo is poised for significant growth as it plans to expand its events into new cities like London, Detroit, Toronto, and Mexico City. With discussions ongoing with about 15 additional cities, the potential for growth is substantial. This expansion, coupled with the development of new media products and event types, positions NewCo to capitalize on the increasing interest in city-like festivals and events that connect attendees with local businesses.
Future fundraising opportunities may arise as NewCo continues to prove its business model and aims for self-sustainability. The company's history of successful funding rounds and the involvement of prominent investors suggest a strong potential for additional funding to support further expansion or new initiatives.
However, NewCo faces challenges such as balancing rapid expansion with maintaining lean operations and achieving self-sustainability. Concerns about the business cycle and potential economic downturns also pose risks. Despite these challenges, NewCo's strategic focus on growth and innovation positions it well for future success.
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