May 8, 2015
San Diego, CA-based Cursive Labs was built on a founding principle to create better ways to start and scale valuable tech ventures. By incubating and growing several of their own ideas with a strong internal team of technology and marketing experts, Cursive has effectively diversified their risk across multiple companies to help aid their process to invest or shutter a venture.
“We really believe in the venture studio model because it is a great way to leverage a proven team across a broader set of endeavors,” said Ryan Bettencourt, cofounder of Cursive Labs. “This inherently creates a dynamic learning organization whose customer centric approach leads to the deployment of superior products in the market.”
To that end, Bettencourt announced that Cursive has successfully closed a $2.2 million Series A funding round. The funding round was led by Crescent Ridge Partners Ventures, Wavemaker Partners, Howard Lindzon of Social Leverage, Keshif Ventures, and Boostrap Incubation: all of them instrumental in growing the San Diego tech ecosystem.
The draw for a lot of the investors is Cursive’s unique approach to the industry that differs from the typical incubator or startup foundry models. They adhere to a strict, metrics-driven process of taking ventures through ideation, incubation, and growth phases, while being governed by an economic structure that creates capital distributions and additional working capital.
“Cursive’s approach reflects a total commitment to making decisions based on real customer and revenue traction. This ensures we are only spending time on ideas and endeavors our customers find valuable. And our reinvestment approach creates a more evergreen way to build repeatable company creation and more exit opportunities for shareholders,” said Cursive Labs cofounder, Jon Belmonte.
To date, Cursive Labs already has two products on the market: exit platform Spoutable and event affiliate BumbleCast. Paired with the former CEO/COO of Active Network, they’re poised for even bigger successes after this Series A round.
“I’ve known the founding team for several years,” said Allison Long Pettine, founding partner of Crescent Ridge Partners Ventures. “They have the right mix of vision, expertise, and ability to execute that has been developed through their past wins.”
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