The Venture Codex

Participated · Seed · Dec 2017

Streem builds augmented-reality smartphone tools that let home-service professionals stream HD video of a customer's issue and use a digital toolbox to take measurements, annotate, and save photos, videos and notes. Its computer-vision features can automatically detect brand and model numbers, and the app supports a laser pointer and arrows anchored to a 3D map of the space, running on Apple's ARKit. The company charges professionals a monthly fee starting at $19 while consumer use is free, and it has partnerships with HomeAdvisor and Porch to attract service professionals. CEO Ryan Fink has expressed broader ambitions to open Streem to many customer-support verticals beyond home services. Streem hired former LiquidPlanner CEO Liz Pearce as chief revenue officer, and during a pitch said it was on pace for $100,000 in monthly recurring revenue by the end of 2018 with potential to triple the following year. The company disclosed an additional $6.8 million in funding via an SEC filing and said the new cash is part of a larger round, though it declined to provide further details. Streem’s mobile platform leverages augmented reality, computer vision and machine learning to let users capture brand, model and serial numbers, take measurements, save notes and record HD video through a digital toolbox. The product is aimed at connecting home-service professionals to customers via on-demand intelligent video and is offered as Streem Pro with a free trial; the app is available in the Google Play and Apple App stores. The company raised additional seed funding to accelerate growth into the $400 billion home services market. Streem announced a new Board of Advisors including Serge Belongie, Christopher Croteau, Eric Doebele and Joseph Tou to support product and go-to-market strategy. The company is led by CEO and co-founder Ryan Fink and is based in Portland, Oregon. Streem raised seed funding to develop a mobile platform that connects home service professionals to consumers with on-demand video streaming and a digital toolbox. The company uses augmented reality, computer vision and machine learning to help professionals diagnose, quote and perform repairs and remodels. Platform features include on-demand cross-platform video calling; a digital toolbox for measurements, notes and anchored laser-pointer/arrow annotations on a 3D map; computer-vision identification of objects, brands, models and serial numbers; and video, image and 3D data capture. Streem plans to use the funds to accelerate product development, grow strategic partnerships, bolster marketing initiatives and expand its team. The company is led by CEO and co-founder Ryan Fink and COO Jef Holove and is based in Portland, Ore. No operating metrics or prior financing details were disclosed in the article.

Participated · Equity · Aug 2017

Rep the Squad operates a subscription sports-jersey rental service that sends one jersey at a time to subscribers for $19.95 per month; customers return a jersey and receive a different one while their subscription is active. The 12-person company launched the service three months prior with NFL jerseys (Seahawks, 49ers, Lions) and expanded to include Denver and Oakland. It is adding NBA jerseys from the Golden State Warriors, Detroit Pistons, and Denver Nuggets and will offer retro Sonics jerseys for Seattle fans. The startup reports more than 500 customers, with Seattle and Detroit as its top markets. Rep the Squad is a spinout of Madrona Venture Labs and is led by CEO Brian Watkins. The company has been growing its selection and markets while iterating on the rental model. Rep The Squad operates a subscription e-commerce service that ships authentic sports jerseys to customers for $19.95 per month ($16.95 for youth), handling sourcing, shipping and cleaning from a Seattle warehouse. The company launched out of Madrona Venture Labs and is led by CEO Brian Watkins, who co-founded the business with Alex Berg. It is starting with NFL jerseys in three markets (Seattle, San Francisco and Detroit) and plans to expand to more teams, additional cities, and other leagues including the NBA this fall. Inventory includes mostly Nike regular jerseys, throwbacks, alternate colorways and special editions; customers can also purchase jerseys after trying them. Technology plans include demand algorithms and potential use of RFID and geofencing to track inventory and enable event-specific features. The startup has 10 employees and says it will raise more capital in the coming months. Athlete endorsements and investor ties to professional teams are a core part of its go-to-market strategy.

Participated · Seed · Jul 2017

Tomorrow Ideas provides a mobile app that helps families create living wills and trusts, organize finances, designate guardians/executors/trustees, track owned items and beneficiaries, and record and share video memories. The company says its legal wills and trusts are made by 52 attorneys across America. Tomorrow is developing a premium suite called Tomorrow Plus that will let families make important financial decisions together on phones, tablets and online. The partnership with NFP will give NFP employees access to Tomorrow Plus as a company-sponsored benefit. Tomorrow is led by CEO Dave Hanley and positions its product around quick, digital-first estate and financial planning for families. The article does not disclose revenue or user metrics. Tomorrow Ideas provides Tomorrow, a financial and legal planning app for families to make long-term financial and legal decisions together. The app lets users create a free will and a free trust (revocable living trust) in minutes, purchase affordable term life insurance within the app or apply an existing policy’s proceeds to fund a trust. Its social features enable users to invite family and friends to serve future roles and encourage transparent dialog about hopes and expectations. The app is available on the iTunes App Store, with Android versions planned, and the company intends to add additional services in the future. Tomorrow Ideas raised $2.6M in seed funding from a syndicate of venture firms and angels, and is led by CEO and co-founder Dave Hanley alongside several co-founders and senior executives.

Participated · Seed · Jul 2017

Tomorrow provides a mobile app that lets users create legal wills and pay for term life insurance, digitizing a traditionally paper-filled process. Founded in 2016 by Dave Hanley, the 14-person company offers free legal documents that the company says meet the needs of more than 95% of Americans. Tomorrow has more than 50,000 users and monetizes as a licensed broker of financial services products such as term life insurance. The company plans to use the new funding for advertising, distribution, and partnerships to grow adoption. Hanley cofounded the business with Josh Heckathorn, Wayne Rambo, and Erik Berg; his prior exits include sales of Banyan Branch to Deloitte Digital and Shelfari to Amazon. Tomorrow offers a mobile app that helps users manage life insurance, accidental death & dismemberment (AD&D) insurance, inheritance, and financial investments. Its core offering is digital estate planning: users can store family information, assign roles such as heirs, beneficiaries, executors, trustees, and guardians, and track assets, belongings, and accounts to be included in one’s inheritance. Tomorrow partners with nine insurers, including AIG, Protective, and Mutual of Omaha, to provide life insurance; its AD&D insurance is complimentary for a year when users download the app, complete the Me section, register, and invite at least three people into important roles who then accept. The company was established in 2016 and is led by cofounder Dave Hanley. It raised $5.9M in equity via an SEC Form D filing, bringing total funding to date to $8.5M. A recent personnel note: Arthur Hoki left after eight months with the company. Tomorrow offers a mobile app that lets users establish family roles (guardian, executor, trustee), create free wills and trusts, list assets, and buy life insurance from their smartphone. The product emphasizes ease, transparency and social features that invite family and friends to participate in planning. The app uses bank-level security, encryption, and authentication protocols. Tomorrow plans to monetize when consumers purchase products via the app, typically earning commissions on sales and making tailored product recommendations. The company employs 12 people and expects headcount to double by early next year. Tomorrow also won $250,000 at a JP Morgan-funded fintech competition and was founded by CEO Dave Hanley with co-founders Josh Heckathorn, Wayne Rambo, and Erik Berg.

Participated · Seed · Jul 2017

VendorHawk provides an enterprise software vendor management platform that helps IT, procurement, and finance professionals manage the broad range of SaaS products used across an organization. The cloud-based system of record handles complex enterprise contracts and aims to help every part of the business make smarter decisions about software usage. It offers integrations with platforms such as Salesforce, G-Suite, Okta, NetSuite, Dropbox, Office365 and Zendesk. Customers include Mulesoft, Procore, Winshuttle and Chef Software. The company intends to use the $1.2M seed to add to its customer base and develop more advanced, enterprise-grade features and integrations. VendorHawk was founded in December 2015, launched with support from Prota Ventures, completed Techstars Seattle 2017, and is led by co-founder & CEO Patrick Lowndes in Seattle, WA.