We so often think of CTOs as expert engineers (which they are, of course!), forgetting that in order for them to do their job well, they also need to master the human, team-building side of the business. We assembled some of the city's leading CTOs, and here are the topics that are keeping them up at night.
Primary is growing! With a newly raised Fund II on the books and an expanding team, we are better positioned than ever to partner with the best founders in NYC. We’re excited to introduce three fantastic additions to our team who will help us broaden our impact to our portfolio companies as we help usher them successfully from Seed to Series A.
CoEdition is the brainchild of former Gilt founders and operators who bring deep-rooted merchant backgrounds and experience scaling digital commerce companies through hyper-growth. Having learned a thing or two about timing from their Gilt days, CoEdition’s entrance coincides with some major shifts in the plus-size industry.
Enterprise SaaS platforms continued to drive the most deal activity this quarter, with particular emphasis on platforms that increase pricing transparency for corporate customers. Other sectors that showed particular strength were ecommerce marketplaces and financial services platforms that seek to democratize access to financial products.
New York City saw a total of 25 seed deals completed in Q1 - just shy of last quarter’s 26 - and a total of $39.2 million in funding, which was down 26% from Q4. Compared to this time last year, Q1 saw 29% fewer deals and 32% less in total funding.
One of the most salient qualities we look for in our founders is the endless quest for learning. The realization that there is no final answer, that there are always more questions to be asked, more angles to be considered, more potential paths forward. This is one of the things we admire most about Ryan Denehy, CEO of Electric, an AI-powered IT support platform that just announced a successful Series A, led by Bessemer Venture Partners.
In recounting her experiences at some of the most influential companies in the world - Alibaba, Evernote and now Etsy - Etsy COO Linda Findley Kozlowski gave us a glimpse into her proprietary formula for building strong brands with loyal followings. Ultimately, it boils down to fostering open communication, mobilizing communities and never losing sight of your customers.
Ollie has seen 500% growth in top-line revenue over the last year, and it rode this momentum to a Series A in July 2017 - led by Canaan Partners, with participation from Primary Venture Partners, Lerer Hippeau, WME Ventures, Correlation Ventures, RiverPark Ventures and Rosecliff Ventures. Since that time, the company has seen 3x revenue.