June 2, 2015
New York City startup ClassPass was ranked #1 on Mattermark’s list of the fastest-growing Series A startups of 2014 – so their $40 million Series B round this January shouldn’t have surprised anyone.
ClassPass, whose total funding is now over $54 million, was founded in 2013. It grew out of Classtivity, a site that let fitness enthusiasts search for nearby classes to take. After going through Techstars and realizing that users wanted to buy a pack of classes rather than search for specific ones, cofounders Payal Kadakia and Mary Biggins had their new idea. Now, ClassPass is available in over 30 cities and recently acquired its competitor FitMob.
Mattermark ranked the fastest-growing Series A startups of 2014 based on their Mattermark growth score, which factors in monthly website visitors, weekly app downloads, social media metrics, number of employees, and funding. This list is published in the 2014 Startup Traction Report (available for $99), alongside tons of other data on the hottest startups, industries, and regions.
Here are the five fastest-growing Series A startups, along with Mattermark’s explanation of why they’re red-hot:
Growth score: 1998
Mattermark says: “ClassPass is a monthly subscription service for fitness classes. It is displacing standard gym memberships by riding the fitness trend wave.”
Growth score: 1641
Mattermark says: “Homejoy, an online cleaning services booking platform, developed an efficient model for matching talented cleaners to customers. Perhaps that’s why Homejoy’s $38 million Series A round eclipsed other Series A investments.”
Growth score: 1621
Mattermark says: “Casper, the startup making king-size memory foam mattresses that fold into compact boxes, generated more than $1 million in revenue within one month of its launch.”
Growth score: 1594
Mattermark says: “Xapo received a $20 million Series A investment to build a secure, insured vault for bitcoins. It is poised to follow the bitcoin industry’s exponential growth trajectory.”
Growth score: 1566
Mattermark says: “Shyp, an on-demand shipping startup, has aligned with major shipping carriers to create efficiencies around shipping. By promising users the most cost-effective shipping option, Shyp has achieved hyper-growth.” Shyp also received $50 million in Series B funding in April 2015.
Mattermark’s 2014 Startup Traction Report uses data from the 2014 fiscal year, which covers October 2013-September 2014. Information comes from public sources like Crunchbase, AngelList, NASDAQ, the SEC, and the White House Office of Management & Budget, as well as private relationships they have with investors and entrepreneurs.
Image Credit: Flickr/Eddy Clio
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