Update on Techstars in the Boston Area: Did We Just Raise $460M Since the Start of the Pandemic?!
Mar 29, 2021
By Clement Cazalot, Managing Director and Jen Riedel, Senior Program Manager of Techstars Boston Accelerator
Applications are now open for our fall 2021 class in Boston - let’s talk!
You can apply now (usually, the earlier we speak, the higher the likelihood to work together, as we get to know each other more). We only work with 10 companies, once a year.
There are quite a few updates from the Techstars network in New England since the beginning of the pandemic. There have been 117 financing rounds from Techstars alumni in Boston and greater New England since the start of the pandemic. This is just nuts!! Raising millions over the past 12 months($459M exactly).
It has been a very busy year for us and all our founders. Techstars Boston only works with 10 companies a year and we’ve been operating our program for 12 years. Things add up over time!
Just a few fundraising highlights:
Ginger.io, Boston 2011, raised $100M Series E, led by Blackstone. Karan the original cofounder is still the COO of the company and keeps growing it!
AdmitHub, Boston 2015, raised a $14M Series B, led by Rethink Education (top EdTech investor)
Own Up, Boston 2017, raised a $12M Series B, led by Brand Foundry Group (fund of the founder of Bonobos & Trunk club - they know their stuff to lead consumer growth!)
Openly, Boston 2018, raised a $40M Series B, led by AVP (a premier global growth-stage investor in the world)
And the smartest alumni are from our Boston-based Air Force Accelerator, clocked over $30M dollar in contracts, grants, and non-dilutive funding from the government since the start of the pandemic! Why sell equity, when you can get millions of dollars in customer money?! :-)
Acquisition highlights:
Rocketbook, Boston 2016 Spring, bootstrapped to over $30M/year, acquired for $40M by BIC.
Knoq, (fka Polis) Boston 2016 Spring, acquired by the digital media company that owns Money.com and ConsumersAdvocate.org.
Yaypay, Boston 2016 Spring, acquired by french company Quadient
AirFox, Boston 2016 Spring, acquired at the start of the pandemic by the Brazilian retail behemoth Varejo, after pioneering one of the first ICO of all time!
SyncOnSet Technologies, Boston 2012, acquired by the entertainment titan EP.
And two additional acquisitions just last week that are not yet public (will share more soon).
We’ve run three programs since the start of Covid, which have served as masterclasses in navigating these challenging times. Susanna Twarog, Co-CEO of S/O/S (Techstars ‘20 company), summarizes her Techstars experience, “When the COVID-19 pandemic struck, the Techstars community became an integral part of my company’s ability to adapt and respond to the rapidly changing landscape.”
Meet the Techstars classes from Boston-area accelerators changing the game in everything from geospatial imaging to reimagined retail:
In April 2020: 10 Boston companies from Boston a.k.a. "the COVID Class"
In May 2020: The last class from the Air Force program with some of the craziest advanced technology in the world
And in Feb 2021: The latest Boston class, jam-packed with amazing humans who never met each other in person!
Techstars has also launched a new program that will kick off in September with Northeastern University in Portland, Maine, and some of the most advanced bio labs in the world (life sciences, we are coming for you!).
Applications are open now for Techstars Boston 2021. But how will Techstars Boston work in a virtual world?
Great question, we’ve covered this at length regarding what to expect in a fully virtual world. Being virtual is allowing us to connect even more dots in the network, in New England and beyond.
We’re looking forward to seeing what 2021 has in stock for us, all we know is that all the signs are pointing to an incredible rise of opportunities for startups everywhere!
Jen & Clem