See the pitch deck that nabbed Clearbanc, a startup that provides funding to other startups, $300 million in Series B financing less than a year after its first venture round
- Clearbanc, a startup that provides funding for other startups to spend on marketing and customer acquisition, announced its $300 million Series B financing round on Wednesday.
- The round was led by Highland Capital and existing investors Inovia and Emergence Capital.
- Canada-based Clearbanc, which was pitched as an alternative to traditional venture capital funding, last raised $70 million in December.
- See the pitch deck the Clearbanc team used to get traditional venture investors on board with its unconventional sales pitch.
- Click here for more BI Prime stories.
Clearbanc is betting that venture capital is the next in line for disruption, and they just raised $300 million in venture funding to prove it.
The Canadian startup, which provides funding for other startups to spend on marketing and customer acquisition, announced Wednesday a $300 million Series B financing round led by Highland Capital, Inovia, and Emergence Capital. The financing portion of the round was led by Arcadia Funds with participation from Upper90 Ventures.
Clearbanc pitches itself as an alternative to venture capital for startups spending heavily on things like Facebook and Google ads, and this is its second venture funding round in less than a year. According to Pitchbook data, the company closed a $70 million Series A in December.
Clearbanc claims to automate the pitching process using a machine learning model that can supply companies with anywhere from $10,000 to $10 million in funding instead of giving up a portion of the company to an investor just to turn around and spend the funds on ads. This model works particularly well for ecommerce startups that need to get in front of new customers to grow, according to Gary Vaynerchuk, CEO of VaynerMedia and Clearbanc investor.
So how was the Clearbanc team able to sell traditional venture investors on a model that is in direct competition with their own? Here's the pitch deck that convinced investors that disruption could be worth $300 million.
- A man's cancer vanished after he was injected with a weakened herpes virus in a promising clinical trial
- Airtel 5G launched in eight cities, entire country to be covered by 2024
- 'Quiet quitting' is a bad idea, experts say. Here are 6 things you can do instead to get the same results if you're looking for better work-life balance – or to lighten your workload
- India Inc's foreign commercial borrowings rise by 4.6% in August
- India emerges as the world's largest producer, consumer of sugar
- Scientists find new evidence for liquid water on Mars
- Both GST and Excise duty can be imposed on tobacco: Karnataka HC
- Godrej Consumer Products expects improved consumption in second half of this fiscal