Weekly Update #9
USD 466.12m capital raise, Edovo Q&A
|Christopher DeLuca||May 1, 2018|
Shortened version of the newsletter this week. Tomorrow is a travel day for me. I’ll be in the London for the rest of the week. If you’re interested in the future of decentralized exchanges and are in the city, reach out.
Data from the Week 📊
Last week, I tracked 45 early-stage startup capital raises totaling USD 466.12m, up from USD 322.54m the week prior. The median amount raised fell to USD 5m from USD 6m.
A full list of deals tracked last week can be found here.
Edovo, education startup focusing on incarcerated individuals, raised recently raised a USD 9.8m Series A.
The company responded to a of couple questions via email regarding the round.
How will you look to deploy the capital from the round? And how do you view the competitive landscape? Who are some of the other players in the space?
The correctional education and communications industry is an incredibly complex field to navigate, being driven by a small number of large companies. These larger companies are profit-driven and may exploit the lack of options or choices made available to the incarcerated population. These groups may charge exorbitant rates for phone calls and messages, apply hidden or additional fees to transactions, and pay government entities kickbacks in order to buy contracts. Edovo is a relative newcomer to the correctional industry, looking to shift the competitive landscape to a more equitable and fair system.
Edovo is shifting this model by providing free education, charging the lowest possible communication rates, and prohibiting additional fees. However, this can be cost prohibit and capital intensive. Edovo is hoping to utilize the capital to continue to scale our offering and provide affordable communication and free education to as many incarcerated individuals as possible. We will be looking to expand our national footprint and further develop innovate correctional technology to continually provide better value and opportunity to correctional staff, the incarcerated, and those affected by the system at large.
Startups need to do due diligence, too. — TechCrunch
Job List: Show Me the Equity 💰
Your time is important. You should pick the right startup to work for. Below are all the early-stage startups that raised capital this week that have job postings on AngelList with a minimum equity amount offered of 0.01%.
Social Media Specialist at Uberflip — Toronto * 0.1% – 0.2%
Manager Crypto Social Media at SHOP — Seattle * 0.01% – 0.1%
Client Success Manager, CTO/CPO/co-founder and Sales Development Representative at improvado.io — San Francisco * 0.001% - 5%
Senior Recruiter at Pusher — San Francisco * 0.1% - 0.2%
Yet Another Mail Merge (YAMM) is something that I use personally and I find it to be to an incredible time-saving tool. Ok, so I think YAMM is great, so what? Well, Siftery named YAMM as the Best-In-Class winner for the Top Product by Market Share in the Email Marketing Platforms Category. YAMM is also a top Google Sheets add-on, with approximately 940,000 users. Check it out here.
If you’re a startup and you’re raising capital and would like to be featured in next week’s newsletter, reach out by emailing: firstname.lastname@example.org.
Feedback and opinions on this newsletter are appreciated.
Sharing this newsletter is a small act that’s greatly appreciated.