2020 Orange Fund III Update

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.

Summary

Companies highlighted in yellow most likely have higher unrealized values than the ones we projected because they would not share their latest share prices.

Companies that did large follow-on financing rounds without disclosing share price are: 

- Checkr. It closed a $160m Series D in September 2019.

- Eden. It closed a $25m Series B in November 2019. 

- Gravitational. It closed a $25m Series A in November 2019. 

- Eight Sleep. It closed a $40m Series C in November 2019. 

- Second Measure. It closed a $20m Series A in March 2019. 

Fund's performance:

Investment amount: $983, 538

Unrealized value: $1,555,088

Return multiple:  1.58

(The return multiple would be significantly higher if the previous companies would have shared their most recent shared prices)

Detailed Breakdown

AppCanary (YC S15)

AppCanary, the service that monitored your servers and notified when you needed to update, has been acquired by Github.

Checkr (YC S15)

Checkr seeks to automate the process of professional background checks. And as a milestone in this journey, they closed their $160m Series D in late-2019, led by T. Rowe Price Associates, joined by Bond, Coatue, Y Combinator, and IVP. Since their origins in 2014, they've grown to become a platform that has done over 42 million background checks.

Eden (YC S15)

Eden makes everything work in your office like magic, including office cleaning, IT support, handyman services, and corporate tasks. They recently closed their $25m Series B in late-2019, bringing their total funding to $40m — the round was led by Reshape. They also onboarded their 2000th service provider, passed $50m in transactions' volume, and are available in +25 major US cities with several cities live internationally.

Flirtey (YC S15)

Flirtey is making drone delivery possible for everyone. After closing its $16m Series A in early-2017 (led by Menlo Ventures), the company has been focusing on scaling its delivery operations to existent customers while developing next-generation technologies. Their most recent drones, approved by FAA in early-2020, are designed to operate in 95% of weather patterns, and drones hold two times more load than Flirtey's biggest competitors.

Gravitational (YC S15)

Gravitational has delivered, since inception, the best open source solutions that help companies deliver cloud applications across cloud providers. It has closed its $25m Series A in November 2019 — the round was led by Kleiner Perkins with help from S28 Capital and Y Combinator. The company will be focusing on solving two major challenges, the difference between all individual cloud providers, and the on-going management after apps are deployed to the web.

Her (YC S15)

Her has been a game-changer in the dating life of queer women — it offered the first successful app for lesbian women to meet other people online. Now, with a community of +4 million users, it is the leading platform that exists only for women to meet other women. The +30-team that makes Her has been growing without raising any capital after its Seed Round in 2015.

Interviewed (YC S15) [FLAGGED]

In August 2017, Indeed, the job platform, with over 200 million monthly users, announced they were acquiring Interviewed.

Ironclad (YC S15)

Ironclad is an automated service to help companies automatically draft, organize, and execute common legal paperwork. In September 2019, they raised there $50m Series C to continue improving their tools to make streamlining contracts more efficient. Y Combinator Continuity led the round with the participation of Emergence Capital, Sequoia Capital, and Accel Partners. Some of its biggest clients are Away, Nextdoor, and Fitbit.

Jopwell (YC S15)

Jopwell is a recruiting platform that allows employers to connect with Black, Latino, and Native American students and professionals. In September 2017, the company closed its $7.5m Series A to further its mission to diversify companies. After moving its model with large companies, Jopwell is looking for ways to replicate and have a similar impact on promoting diversity in smaller businesses. l

Eight Sleep (YC S15)

In a journey to turn bedtime into recovery time, Eight Sleep started with high-tech mattresses and is now looking to bring all other sleeping products to that same degree of quality. To accelerate this process, the company closed its $40m Series C in November 2019, bringing its total funding to $70.1m. The round was led by Founders Fund and joined by Khosla Ventures, Y Combinator, Craft Ventures, 8VC, etc.

Plate IQ (YC S15)

Plate IQ saves restaurants time and money by automating their invoice processing and accounts payable. In March 2017, the company closed its $4m Series A round — Eileses Capital led the round joined by Initialized Capital, Restaurant Group, the Y Combinator Continuity Fund, and the Tamares Group. It was planning to use the funding to expand to new markets, and since then, integrated with some of the hottest brands such as Jamba Juice, with +100 of its stores having integrated Plate IQ's API.

Ross Intelligence (YC S15)

In a mission to building technology that helps everyone obtain the best possible legal outcomes, Ross Intelligence closed their $8.7 Series A in late-2017 to continue improving their AI tools. INovia Capital led the round with participation from Comcast Ventures Catalyst Fund, Y Combinator Continuity Fund, Real Ventures, Dentons’ NextLaw Labs. In December 2019, they announced a partnership with FastCase, a smart alternative for legal research, to access their databases and refine the accuracy of all their software.

Scope AR (YC S15)

ScopeAR uses augmented reality to let a remote viewer draw and annotate your view of the world. And in this mission to make everyone an instant expert, they closed their $9.7m Series A in March 2019 to scale up its existing platforms, services, and products that use AR technology. More recently, they acquired WakingApp — an Israeli AR startup — having six of their founding team members join the team to integrate their technology. ScopeAR has now +50 employees and has offices in the US and Canada.

Second Measure (YC S15)

Second Measure uses the data of billions of credit card transactions to analyze macroeconomics trends in real-time. In March 2019, the company raised its $20m Series A round, co-led by Bessemer Venture Partners and Goldman Sachs, and joined by Citi Ventures. Here are some articles of Second Measure's latest insights — DNA tests are becoming unpopular, Uber Eats is dead weight.

The Ticket Fairy (YC S15)

Ticketfairy is an event marketing platform that helps event organizers more quickly fill up their seats — providing help with analytics, ticketing, and advertising. The company has been actively poaching away venues from Eventbrite and Ticketmaster with the added feature of letting fans earn tickets from referring friends. They raised a $2.5m Seed Round in mid-2019 to accelerate with this process, having sold +850,000 tickets and increasing event organizers' revenue by 15% to 25%.

Thrive Agritech (YC S15)

Previously Transcend Lighting, it has built the first LED blue light for indoor farming that results in higher yields, uses half the power, and lasts 5x as long as the average grow light. In April 2018, they closed their $2m Seed Round to accelerate the development and deployment of its LED technology in controlled environment agriculture. Most recently, they launched Apex, their new LED light, exceeding all their expectations.

Tsumobi (YC S15)

They had to shut down operations.

Vive (YC S15)

They had to shut down operations.

VOIQ (YC S15)

VOIQ offers conversational VoiceBots for calling — used for sales, marketing, and support. They raised their $2m Seed Round in late-2019 — led by LEAP Global Ventures with participation from 10xCapital — bringing their total funding to $5m. VOIQ launched the first of its kind SaaS platform in February 2019, with over 700 companies as customers.