Total amount raised
$28.5 Millions
Latest funding date
03/01/2022
Location
Rutter has successfully raised funding through multiple rounds, including a Series A, with notable investors such as The Chainsmokers and Juan Santa Cruz. The company offers a universal API that integrates with various commerce, accounting, and payments platforms, providing a comprehensive solution for businesses.
Keep reading to explore the intricacies of Rutter's fundraising journey and the investors backing this innovative platform.
What Is Rutter?
Rutter, founded in 2019 by Eric Yu and Peter Zhou, is based in San Francisco, California. The company specializes in developing a universal API that integrates with various commerce, accounting, and payments platforms. With a team of 11-50 employees, Rutter aims to provide seamless integration solutions for businesses.
How Much Funding Has Rutter Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2019
- Lead Investors: Haystack, Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their universal API for commerce, accounting, and payments platforms.
- Seed Round
- Amount Raised: $1.5M
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their API capabilities and support more integrations with various commerce platforms.
- Series A
- Amount Raised: $27M
- Date: March 2022
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build the data infrastructure layer for commerce, focusing on fintech and ecommerce enablement companies.
Total Amount Raised: $28.5M
Current Valuation: Not publicly disclosed
Key Investors
- Andreessen Horowitz (a16z)
- Details: A leading venture capital firm known for investing in technology companies. Founded in 2009, it has become one of the most influential firms in Silicon Valley.
- Investment Focus Areas: Technology, fintech, ecommerce.
- Notable Investments: Facebook, Airbnb, Slack, Coinbase.
- Haystack
- Details: An early-stage venture capital firm. It focuses on investing in technology startups at their nascent stages.
- Investment Focus Areas: Early-stage technology startups.
- Notable Investments: DoorDash, Instacart, Opendoor.
- Y Combinator
- Details: A startup accelerator that has funded over 2,000 startups since 2005. It provides seed funding, advice, and connections.
- Investment Focus Areas: Technology, software, internet companies.
- Notable Investments: Dropbox, Airbnb, Stripe.
- Basis Set Ventures
- Details: A venture capital firm focused on early-stage investments in artificial intelligence and automation. Founded by Lan Xuezhao.
- Investment Focus Areas: Artificial intelligence, automation, early-stage technology companies.
- Notable Investments: Scale AI, Quince.
- The Chainsmokers (Mantis Capital)
- Details: An investment firm founded by the music duo The Chainsmokers. They focus on innovative and disruptive technologies.
- Investment Focus Areas: Technology startups, consumer products.
- Notable Investments: Ember, Liquid Death, FitOn.
What's Next for Rutter?
Rutter stands at the cusp of a significant opportunity, aiming to become the backbone of commerce data infrastructure. With plans to support over 100 integrations by the end of the year, the company is poised to expand its reach across the fintech and ecommerce sectors. This growth is fueled by the increasing demand for seamless data integration solutions, making Rutter's universal API a critical tool for businesses navigating multiple platforms.
Future fundraising appears promising, given the successful Series A round and the involvement of high-profile investors like Andreessen Horowitz. As Rutter scales its engineering and go-to-market teams, additional funding rounds could support further expansion and innovation. However, challenges such as maintaining high data quality, ensuring reliability, and keeping up with the rapid pace of new integrations will require strategic focus and robust team growth.
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