Startup Database Blog

Working B2B Sales Leads? Five Stats to Consider in 2020

If you are looking to have more success working b2b sales leads and ultimately closing more deals in 2020, here are some interesting statistics to be aware of, along with suggestions in light of these facts.

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1.) Most buyers want to talk about pricing and see how the product works on the first call, while only one in four want to talk about goals, authority and timeline. {HubSpot}

A Look Back at Some of the Largest Tech Funding Rounds of 2019

As 2019 comes to a close, I thought it might be interesting to take a look back at some of the largest technology related venture capital funding rounds of the year, to help think about future business trends.

 

In summary, industries such as banking and logistics & transportation, which have been long been mired in legacy technology and ways of doing business, seem poised to see dramatic changes over the coming years, as evidenced by the significant investment in some of the companies mentioned below. 

Flexport: $1 billion

In February, Flexport announced a $1 billion dollar funding round led by Softbank's Vision Fund. The company's technology platform helps companies ship goods around the world.

Mean Series A Funding Round Reaches Record $14 Million

The mean Series A funding round in the U.S. has reached $13.96 million for the first time.  After reviewing nearly 600 Series A rounds since the beginning of 2019, the Average A round beginning the year was about 20% less than the new high just reached. Let's look at a few factors fueling the continued rise.

Marketing to Startups: How to Handle The Double Edged Sword

There are a couple of important facts from the U.S. Census Bureau that any company marketing to startups might want to reflect upon:

Some Interesting Recently Funded Startups

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With technology focused on very different use cases, from cancer fighting to easier parking, here are three interesting tech and biotech startups that recently received funding, along with another company that wants to make your life more well travelled, while still keeping your job.

1.) Nkarta Therapeutics raised $114 Million in a Series B Financing to advance multiple programs into clinical trials. Nkarta is focused on leveraging the natural potent power of NK cells (natural killer cells) to identify and kill abnormal cells. The company is combining its NK expansion platform technology with proprietary cell engineering technologies to generate an abundant supply of NK cells,  as well improve NK recognition of tumor targets and persistence for sustained activity in the body for the treatment of cancer.

How to Leverage a Startup Database to Increase B2B Sales Leads

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If your company sells to startups, one of the biggest, most common challenges you've probably run into is simply a lack of capital on behalf of the startup to purchase your product or service. 42% of salespeople say prospecting is the hardest part of the sales process and lack of budget at a target company is certainly one of the reasons why. How frustrating it is to go through a sales process only to find out that despite your best qualification efforts, the company really just didn't have the money to buy.

Startup Data from 4,817 Funding Rounds

We analyzed the 4,800+ funding rounds in the U.S. year to date of greater than or equal to $100k. Here are some interesting startup data points from 2019:

Ultranauts' Series A Funding Round A Win for Neurodiversity

Ultranauts Inc, formerly known as ULTRA testing, is an engineering startup that employs talent on the autism spectrum. The company just announced a $3.5 million Series A Funding round.

Providing data engineering services and software to both startup clients as well as the Fortune 500, Ultranauts has built the first-ever remote workplace for neurodiverse talents.

The funding was made possible and led by The Disability Opportunity fund and SustainVC. They have been joined by a renowned group of investors that includes the philanthropist and advocate Lisa Yang, Chief Talent Officer of Bain and Company Russ Hagey, Vice Chairman of Cognizant Frank D'Souza, Moai Capital (run by Founder of Emergence Capital Brian Jacobs), The Libra Foundation (facilitated by the Candide Group), the Wasabi Ventures, and Social Venture Network.

Ultranauts was founded by two MIT engineers, Arthur Schectman and Rajesh
Anandan, in 2013. Right from the start, Ultranauts looked to prove that autism and
other kinds of Neurodiversity could actually be a significant advantage in terms of business outcomes.

With 75% of staff on the Autism spectrum, Ultranauts' employees have unique abilities, which is ideal for projects requiring high levels systems thinking, logical reasoning, pattern recognition, and focus. 

The model is working. Ultranauts has experienced 50% plus annual growth since it started, with over 65% of year-over-year (YOY) growth in the fourth quarter of 2018 and 100% YOY growth in the first quarter of 2019.

Web and app accessibility, analytics, data accuracy and hygiene, as well as API and UI
test automation are just some of the specialized services that has fueled this company's success.

In terms of client results, Ultranauts' customer IBM has seen 56% less defects for a Fortune 100 financial service firm, while another Ultranauts team has displaced CapGemini and improved test coverage by orders of magnitude.

The CEO of Ultranauts, Rajesh Anandan, says that ML, AI, and big data offer various opportunities for driving value across an enterprise; however, these technologies also bring
hidden risks and complicated challenges.  So, to ensure the compliance and quality of current platforms and products, Ultranauts provides customers advanced tools.

Ultranauts' funding will be used to accelerate both the impact and growth of the company, which includes investments in research and development. Also, there will be sales and training
to help the company expand in terms of data quality engineering.

Backbone Completes Series A Financing with $18mm Total

Backbone, a next-generation workflow platform for consumer goods companies, just hit $23 million in total funding. Securing an additional $10 million in Series A financing led by Foundry Group, Backbone has gathered an impressive $18 million in funding in a year. The company's first funding was a Seed round of $250k back in 2016.

From August of 2018 to August 2019, Backbone has mainly partitioned their proceeds to expand their niche within consumer-based industries such as textiles, furniture, etc. The Boulder-based company now is in collaboration with several companies such as Warby Parker, Uppababy, Betabrand, Allbirds, and Outdoor Voices. Additionally, Backbone says that by the end of 2019 they'll be taking in a Chief Operating Officer and will be increasing their workforce 2x by the second quarter of the year 2020.

CEO and co-founder of Backbone Matthew Klein says the recent financing will aid Backbone in advancing to the middle market. "It allows us to enable today's leading disruptive brands further to make products better, faster, and more efficiently. Since the beginning, we've never thought of ourselves as being up against our legacy incumbents. Instead, we are competing against a fast-growing direct to consumer economy with a customer demand that is greater than ever." said Matthew. 

The Spine of Backbone PLM

Backbone is a cloud-based platform that provides PLM solutions for consumer goods companies. PLM stands for product lifecycle management, which provides an analytical and technical approach in managing the entire lifecycles of products and goods in the industry. Backbone eliminates extreme pain point during the development process of products.

Also, Backbone improves the total efficiency and overall growth of a company through cross-functional visibility. This increases revenue opportunities while decreasing the totality of revision cycles and waste. What's more, Backbone seamlessly connects workflows and can be integrated to top work-related applications such as Shopify, Slack, and NetSuite. 

The Faces behind Backbone

Backbone was founded and spearheaded by two prominent brothers, Matthew and Andrew Klein. With 30 years of experience in fashion and consumer goods behind them, they have developed Backbone to automate the design and production process, reduce lead times during the course of the supply chain and have products get to market faster. 

The company says traditional and outdated Product Lifecycle Management infrastructures are slow and rigid. For this reason, the brothers developed Backbone to help minimize the work process of each product development. "The platform eliminates friction and complexities while increasing speed to market. We are thrilled to partner with such a prestigious group of investors, who will be instrumental in helping us bring our solution to even more innovative brands seeking to meet the on-demand needs of consumers," adds Andrew Klein, Chief Operating Officer of Backbone. 

Top U.S. Cities for Funded Startups: First Half, 2019

The results are in for the top U.S. cities for funded startups over the first half of 2019. See which cities lead the pack in terms of total amount funded, number of funded startups, average deal size and money invested per capita, for the first half of 2019.