A bootcamp simply for business computer software start-ups, Acceleprise, has closed a brand new $7 million fund. The firm also recently hired a fresh General Partner, Whitney Revenue, to run its accelerator in San Francisco. Sales is among the capital raising industry’s few women to hold a general partner title today.
According to Acceleprise Managing Director Michael Cardamone, the firm has invested in 64 start-ups up to now. It plans to purchase 80 more over the next three years, with at least 40 of those deals originating outside of the U.S.
While Acceleprise has been going its accelerator method in San Francisco since 2014, many of its portfolio companies have set up shop and found achievement beyond the Bay Area. So, the firm is expanding to NEW YORK and Melbourne, Australia.
Matt Straz, CEO of HR tech enterprise Namely, will join Acceleprise as a mentor-and-investor in New York. And Adir Shiffman, executive chairman of Catapult Athletics, a supplier of wearable and video tutorial analytics for pro-sportsmen and sports institutions, will interact Melbourne.
Cardamone told CNBC, “We’re beginning to see more sophisticated equipment learning and blockchain based applications become useful for different industries. But at the same time, there’s still a whole lot of bedroom for companies to grow by just automating workflows in a vertical that was not served very well by incumbent software companies.”
To nurture extremely early-stage companies along, Acceleprise invests $50,000 primarily and a 4-month program that includes mentorship from seasoned tech entrepreneurs, sales coaching, and introductions to big potential customers and investors.