December 17, 2014
The team at the newly-launched VentureFund.io believes that funding is essential for success when it comes to early-stage startups. And they’re not wrong as we’ve seen an explosion of high-growth startups; however, this has created a high grade competition for venture capital in different ecosystems.
In their role as a new early-stage VC fund, VentureFund.io has assembled a team of diverse serial entrepreneurs and investors to provide a new way to access capital. They today announced the introduction of Traction API, a data-driven platform that frees startup founders from the requirement of pitching investors by letting their app’s data tell their story instead.
“Today, the name of the game for startups is traction. Most startups don’t fail because they weren’t successful at building a product, they fail because they aren’t successful at gaining traction, and growing users and revenues,” says Clarence Wooten, co-founder and Managing Partner of VentureFund.io. “As serial entrepreneurs and growth hackers, we leverage each startup’s data to provide founders with actionable insights and growth tips that help them accelerate their journey to traction while also providing a path to funding so that they’re free to focus on growing their business, not pitching it.”
We’ve seen past startup giants like Airbnb, Dropbox, Uber, and WhatsApp become billion dollar businesses in years versus decades, making it clear that early traction is an indicator of future success. As a result, angel and venture investors have come to expect some type of noticeable traction before committing significant capital.
The Traction API from VentureFund.io and accompanying dashboard provide entrepreneurs with insight, guidance, and tools to better understand and increase the value of their startup. Access to this early traction data helps VentureFund.io identify startups with exceptional growth prospects
“It’s a win-win. We aim to be helpful to all founders regardless of location, gender or background by providing growth tips and insights via the VentureFund.io dashboard that accompanies the Traction APITM. Should a startup gain significant traction, we will more than likely pitch them,” says Wooten.
It’s important to know that startups are under no obligation to accept funding from VentureFund.io. However, the use of their new Traction API will always be free for anybody who wants to use it.
Did you like this article?
Get more delivered to your inbox just like it!