I'm excited to announce that Tive recently closed a seed round to help us grow faster and bring our solution to more customers.
Actually, we raised $3.14159M (yes, we do love Pi)
We have successfully raised a seed round with some amazing venture capital partners. I'll share more about our investors in a second, but first let me tell you why we decided to raise money.
When I started Tive, I was focused on building a useful product without any outside financial support. We managed to build the product, and engage in real test cases with real paying customers. During this process, we confirmed that our customers had an urgent and real need for our solution - this was the moment we began to realize that we needed to scale up quickly in order to meet the market demand and continue building our product.
To do this, we decided it was time to raise a meaningful amount of money to grow the business, but not from just anyone, of course.
Our investors are fantastic
Let me take a minute and introduce them:
Jeff Fagnan @ Accomplice
When we first met Jeff and shared our solution, he almost jumped over the table with excitement (which is a really endearing quality in an investor). Jeff knows a lot about the wireless/RF space, and Accomplice has emerged over the last few years as a really innovative force in the Boston VC ecosystem.
Rob Go @ NextView
Rob and the NextView team spotted Tive early on and were amazingly supportive throughout the funding process. NextView is focused on helping companies as they launch products and scale up, and we've been big fans of theirs for a long time.
Of course we continue to appreciate the support of our earliest investors (Bolt and Hyperplane), both of whom are participating in this round as well.
Axel Bichara and Ben Einstein @ Bolt
In addition to helping with our initial funding, the Bolt team actually introduced me to Rob Stevens (co-founder and CRO) in 2016, which has worked out well for all of us. The Bolt team continues to support us with electrical and mechanical engineering expertise and resources as we make improvements to our hardware - we are grateful to have them on board.
Vivjan Myrto @ Hyperplane
Vivjan and Hyperplane are carving out a reputation as a savvy, energetic investor, especially in businesses with a strong big data component. Since we believe that gathering and understanding data from an enormous number of sensors is key to our future, our partnership has made a lot of sense right from the beginning.
Semyon Dukach @ Techstars Boston
Semyon is a true mentor. From our first interaction with him at Techstars Boston, I immediately knew that Tive was going to benefit a great deal from his experience. Semyon has always been available to lend a hand and is a pro-founder investor - I am very excited to have him as part of our Tive family.
And now we get back to work
Fundraising was a great opportunity to share our story with many wonderful investors who are willing to listen and help us along the way, but as any founder who has raised money will tell you, the process can be a huge distraction.
Fortunately while Rob and I were off talking to investors, the rest of the Tive team continued to plow ahead, releasing new versions of hardware and software and making sure our customers are having a great experience. I am very proud of our team and I'm excited to have raised the money, and now I'm even more excited to get back to business and continue building Tive.
P.S. We'll be hiring soon
Tive is becoming well-known as one of the top startups in Boston, and over the next few months we'll be hiring in a number of areas, including hardware and software engineers. If you're interested, please keep an eye on our careers page, where we will be posting open positions.