We were following 4 companies on the Startup WhispererTM through their fundraising process late Q4 of last year. While I wont reveal who these companies are since I promised that they would be anonymous, I wanted to update the readership on what their respective progress has been over these many months.
Of the companies that we followed:
- Angel-backed company - raised enough angel dollars to launch their service into beta.
- Series A company - one company merged with another in order to combine efforts in order to make a stronger business. There is a previous post on Seattle 2.0 about the thinking behind this strategy.
- Series A company - did not close an additional round and there status is unknown but they are still alive and fighting hard.
- Series B company - raised a small inside round that will extend their runway another year.
Hard work, passion, and determination continue to be the elements that continue fuel startups and these companies. The sentiment right now is that the worst is over (from a fundraising perspective and economy perspective) and these business leaders are optimistic about their chances. Entrepreneurs are always optimistic but I am personally optimistic that no one has been voted off the proverbial island as we have traversed through one of the toughest economic climates of our time