Participated · Seed · Mar 2015

Asseta operates a B2B marketplace that connects manufacturers, dealers, and brokers to buy and sell spare parts and capital equipment. After launching with a focus on used manufacturing equipment, the company shifted to spare parts to increase transaction frequency. CEO Anton Brevde says the move grew transactions from 1–4 deals per year to 20–40 per month and the company has grown roughly 20% per month since. Buyers on the platform can save about 60% on spare part spending while Asseta charges a 10% transaction fee. The company plans to return to used capital equipment sales in the future and expand into other verticals, but is currently focused solely on parts. Asseta operates an online marketplace that lets sellers list used manufacturing equipment (make, model, year, description) and offers on-site photography, payment processing, shipping, and fulfillment. The company takes a 5–10% transaction fee, which it says is substantially lower than the industry broker norm of around 50%. Asseta launched its marketplace last August and is a Y Combinator summer 2013 alum; three of four founders have manufacturing backgrounds and Anton Brevde is CEO. The startup has added over 200,000 listings and reports 50% month-over-month growth, though the founders declined to disclose transaction counts or revenue. Asseta is pursuing a vertical-by-vertical expansion, starting with semiconductor equipment, then moving to other high-tech industries and eventually all used industrial equipment. The new funding will be used primarily to grow engineering and sales teams.

Participated · Equity · Jul 2014

SnapUp is a mobile shopping app that imports iPhone screenshots, automatically identifying the product and store so users can title, edit and organize items into wish lists and track price changes. Its technology can identify products on the mobile web and the team has trained the algorithm to "fingerprint" around 400 native mobile apps. After installation the app asks permission to access the Camera Roll to find screenshots users save, which are then imported into SnapUp for tracking and eventual purchase. The company emphasizes utility over social features, removing many social elements to focus on items users intend to buy. SnapUp launched on the iTunes App Store as a free download and currently uses affiliate links to track conversions for initial revenue. The team is testing the product with consumers, considering other business models such as making the app paid, and says another fundraising round may close in a few months. Founded around a year ago by Dan Cheung, Eric Goldberg and Shan Mehta, the startup is based in San Francisco.

Participated · Seed · Apr 2014

Enplug provides a software licensing platform for digital displays that runs on off-the-shelf Internet-connected TVs rather than selling proprietary hardware. Its system supports apps developed by Enplug and third-party developers via an SDK, enabling businesses to aggregate social media (Twitter, Facebook, Yelp, Foursquare, Instagram) and surface customer interactions on screens. Viewers interact with displays using business-chosen hashtags. Two years after launch, Enplug raised a $2.5 million seed round to expand distribution to more restaurants, cafes, retail stores and other businesses. The company charges customers a monthly subscription per screen (starting at $99/month with advertising or $299/month without). Enplug was founded in 2012, is based in Los Angeles, employs about 30 people, and has customers in 40 cities and hundreds of businesses, including Amoeba Music, Arco AM/PM, Ten Ren, Toyota, and Rita’s Ice.