Here is an update of the fund's performance up-to-date.
1. I will provide a summary of the unrealized value of the fund, and of each company with their latest status.
2. I will share a detailed breakdown of each company's progress.
Companies highlighted in yellow probably have higher unrealized valuesthan the ones we projected because they would not share their latest share prices.
- Cleanly merged with NextCleaners this month, March 2020, and they have not disclosed information on share price after the merge.
- Equipment Share closed a $25m Venture Round in 2018, adding to its $26m Series B in 2017. The company has not disclosed shared prices after both rounds, so their unrealized value is much higher. It is also negotiating with SoftBank to raise a $150m Series C.
- GrubMarket's unrealized value is excluding its $25m Series C (~$255m valuation) as the company would not share its latest share prices. Their unrealized value is most likely much higher.
- Mashgin raised an $8.2m Series A and has not shared its latest share prices. We expect their unrealized value to be higher.
Investment amount: $975,000
Unrealized value: $1,209,250
Return multiple: 1.24 (again, the return multiple is most likely higher)
Akido Labs (YC W15)
Akido offers a standard API for hospitals to help them leverage the power of information in decision-making. There are no major changes since previous updates.
Automate Ads (YC W15)
They had to shut down operations.
Bluesmart (YC W15)
They had to shut down operations.
Bonfire (YC W15)
Bonfire builds software that helps procurement teams come together to make better bid and RFP decisions. In September 2018, the company got acquired for $108m — it will merge with five other companies under the banner of GTY Technology Holdings Inc.
Cleanly (YC W15)
Cleanly is an on-demand laundry and dry cleaning app that picks up your dirty clothes at the tap of a button and returns them to you clean the next day. In March 2020, it merged with NextCleaners in an attempt for vertical integration, naming the new company By Next.
Equipment Share (YC W15)
In a mission to help contractors a better way to manage mixed construction fleets, it offers high-quality construction equipment from local contractors at a low price. In late-2018, they closed their $25m Series B1, bringing their total funding to $58.7m. In the past five years, the company grew to 800+ employees, 30+ rental locations and 32,000 Track-connected assets. It is currently in talks to raise another round of at least $150m led by SoftBank.
GrubMarket's mission is to make fresh and healthy food accessible to everyone, and does so by offering a farm-to-table delivery system. They closed their $25m Series C in early 2019 at a valuation of ~$255m, and led by WI Harper Group and Digital Garage — bringing their total funding to $92.1m. GrubMarket, already planning its IPO, shared that it is planning to use the funding for new technology and more acquisitions.
Instavest (YC W15)
They had to shut down operations.
Labdoor (YC W15)
Labdoor purchases supplements and tests them to find out whether the products have what they claim and if they have any harmful ingredients or contaminants. It so far has helped +10m users to make smarter health choices. The company has had no major updates after closing its $3.2m Series A in 2016.
Mashgin (YC W15)
Mashgin is on a mission to make a frictionless checkout experience for all using advanced computer vision. It closed its $8.2m Series A in late-2017, and since then, its technology has been live in several locations across the country, processing 200k transactions monthly. Check out this tweet.
Meadow (YC W15)
Meadow's mission has been to build the best software for cannabis companies in California. Since closing its $2.1m Seed Round in 2016, the +20-employee company has been slowly growing but with no major updates.
Nextravel (YC W15)
NexTravel makes business travel simple with easy corporate management tools. It just closed its $2.4m Series A in January 2020, and has not disclosed how it is planning to use this capital for growth.
Outbound (YC W15)
Outbound, the tool that helps companies better communicate with their customers, was acquired by Zendesk in 2017.
Pakible (YC W15)
Pakible lets anyone create custom product packaging online. The company has been growing since its last $1.5m Seed Round in 2017 — avg. revenue in 2017 of $80k, avg. revenue in 2018 (Q1 & Q2) of $170k, avg. revenue in 2018 (Q3 & Q4) of $275k. We are still waiting on updates on their growth in 2019.
Paperspace (YC W15)
Paperspace is the cloud platform built for the future — they let you store everything in the cloud and open it with a web browser. In late-2018, they closed their $13m Series A, bringing their total funding to $23m. Battery Ventures led the round with participation from SineWave Ventures, Intel Capital and Sorenson Ventures. They are planning to use this capital to become the go-to platform that anyone can rely on to start building out into intelligent applications without thinking about infrastructure.
Smarking (YC W15)
Smarking is a smart parking solution for the industry that predicts parking demand based on historical data. Since their $3m Seed Round in 2015, the 10-people team has been focusing on deploying different solutions to disrupt the parking industry. In Oct 2019, they delivered their latest product — the first fully automatic dynamic pricing engine, which has seen a 163% average channel sales uplift across locations in over 10 regions.
Underground Cellar (YC W15)
Underground Cellar is an online wine marketplace for discovering and buying premium wine. They failed to raise a $4m Series A in late-2017 but were growing 30% month-over-month for 6 months straight in early 2018. We have not had any major updates after that.
Vertical (YC W15)
Rebranded as Placenote, it helps developers build the next generation of spatial apps that interact with for the real world. There are no major updates since they graduated from Y Combinator.
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