Startups I’d Fund #9

4cf7c736-9df6-4dd1-83f6-0653801e175a-1461118616165.png

Triplebyte believes the current technical hiring process doesn’t do enough to help engineers show their strengths. They’re dedicated to building a better process. Triplebyte is broken down into three simple steps. One, take an online coding quiz, no resume needed. Two, get matched with 200 top tech companies. Three, go straight to the final interviews with your favorites and get offers.

Last Funds Raised: $3MM Venture, September 2015

Headquarters: San Francisco, California

 

What I Like:

  • Hiring in general is a huge pain-point for large companies and this would streamline the process because you would only sit down with candidates who have met your minimum technical threshold.
  • The company has raised a relatively small amount of money given how much traction it has (12,000 engineers screened) and they haven’t had a large VC investor, so you could be the first. The company has also received strong reviews from users and is partnered with large US companies including Facebook, Apple, Instacart, Stripe…
  • Finding a talented engineer is a significant problem in the bay area and as the need for engineers expands across the globe, this issue will grow with it. This company helps provide a universal test for the aptitude of engineers.
  • The company has not raised money since 2015, so they would probably be open to some additional capital.
  • Profit margin is very high because the tests become almost pure profit once x number of engineers have been hired off it.
  • A non-technical person hiring an engineer is basically impossible because you have no idea what the person’s skill level is at since you are not educated on the topic. TripleByte solves this problem.
  • I like that the market will continue growing over the next 15 years and will not be going away anytime soon because the demand for engineers is growing.

 

What I Don’t Like:

  • There are a solid amount of other companies doing something similar, however, I don’t think they have the traction of Triplebyte with the amount of people they have hired and the company access they have for getting engineers hired.
  • Getting more engineers/companies on the platform will be the biggest roadblock for the company and they may have reached peak growth already.

 

Conclusions:

  • I think there is a lot of unrealized value in this company and that TripleByte may be due for another round of raising. The impressive traction of the company make me wonder why it has not raised in such a long time and I believe it would be worthwhile to talk with the team.  

 


c9b0221acd904f0d968c9feba0c6fefd.png

Quintype is a data-driven publishing platform for the mobile-first world. Digital publishing has been stuck in the dark ages. The most commonly used platforms today are WordPress and its cousins, which are over 12 years old. In the meantime, the landscape of content, audience, and monetization has changed dramatically. Quintype is a seamless, end-to-end SaaS to manage all aspects of a modern online media operation. It’s completely cloud-based, and is free to get started.

Last Funds Raised: $3.25M Venture, September 2015

Headquarters: California, Pennsylvania (yup this is a real place)

 

What I Like:

  • The company is taking advantage of forever evolving media and helping publishers to monetize as the platforms change.
  • The company last raised funds in 2015, so they are probably seeking new capital. In addition, the companies financial backing seems to be from one individual, so they would benefit from a VCs advice/structure/access.
  • Media/content publishing will be around forever and I like how this platform empowers the creators by helping them make money. I think it will be adopted by publishers because it is free to them and generates them income.
  • The advertising technology space is also growing substantially and I believe this company will continue to develop new products in the space.
  • The founder, Amit Rathore, has an impressive background serving in senior roles at large corporations and seems to have a strong focus on computing.
  • Marketing/publishing products are offered, showing how they are trying to tackle the largest problems for publishers. I like the two-prong approach, it would be interesting to hear which is most successful.

 

What I Don’t Like:

  • The founder has recently launched a data driven venture capital fund. Although this speaks to his boldness and success – it concerns me that this pursuit might take up his time when he should be devoting more attention on Quintype if you were to invest in the company.
  • Acquiring users would be difficult due to the scattered nature of publishers. It would be vital to partner with a company like WordPress/Medium or a partnership with a media/publishing company.
  • Although this company seems to have strong traction, it would be important to understand how it differentiates itself from competitors.

 

Conclusions:

  • Quintype seems worth considering, but my biggest concern on the surface is the attention it is receiving from its founder versus his new pursuit of venture capital. Having said that, I think it would be worth exploring.

giroptic_fond_transparent.jpg

GIROPTIC has developed and patented a unique real-time image fusion process from multiple sensors. On May 20th 2014, GIROPTIC launched a Kickstarter campaign to fund its first consumer product: the GIROPTIC 360cam. In 45 days, the startup raised over $1.4 million, thus becoming France’s largest crowdfunding campaign. GIROPTIC paves the way to a new 360° era, for consumers and professionals, where photos and videos won’t be limited to a single frame. The GIROPTIC 360cam forever changes the way we capture and experience life around us. Up. Down. All Around.

Last Funds Raised: Undisclosed Seed, September 2016

Headquarters: San Francisco, California

 

What I Like:

  • Initially I was a little skeptical because it is a Kickstarter funded consumer product and that is such a flakey industry to be playing in because someone else could come along and oust your product with something more advanced, however, this product seems like it could be the next GoPro.
  • With the emergence of 360 video platforms, such as Facebook/Youtube, this content has a place to be displayed and this company is on the forefront of this technology at a reasonable price. GoPro’s competitive alternative product is literally 6 GoPro Hero4’s in a contraption to make it 360 degrees for $5,000.
  • The company has only raised a seed amount of money, so I’m sure they would welcome a seasoned venture capitalist team to help them with market strategy and scaling.
  • This type of product fits into the virtual/augmented reality segment and would potentially become a player in that growing market.
  • I love how small the product is and that it can just be clipped onto your iPhone. Cool and easy to use.

 

What I Don’t Like:

  • Consumer technology hardware products are difficult, especially considering how much is going on in the camera/media space right now.
  • So much money would be pumped into R&D that it may just be throwing money away because the ROI on R&D is tough unless you have a strong breakthrough.
  • Competitors like Go-Pro/Canon are working on competing products right now and it can’t be long before these camera experts develop something similar. Giroptic, would have to really capitalize on their first-mover advantage rapidly and gain market share.

 

Conclusions:

  • Overall I think it would be a pretty risky investment considering all the external risks, but I do believe it could be profitable if they are able to keep developing better products and really capitalize on the current offering.
  • I believe as a worst case the company would be purchased in an acquihire because this small talented team was able to make something that GoPro has yet to perfect, and that makes them exceptionally valuable.

 

 

 

print

Leave a Reply