October 17, 2016
Dev Tools Digest – Oct. 17
In this week's digest, we announce our newest member ReadMe, Serverless launches V.1 of the Serverless Framework and a $3 million dollar see...
Since its inception, Heavybit has provided a structured 9 month accelerator to help Series Seed and Series A developer and enterprise companies scale their go-to-market. We’ve learned a ton of lessons from working with companies like Citus Data, CircleCI and LaunchDarkly — leaders who’ve not only gone through the accelerator program but continue to give back as mentors and advisors. I am incredibly thankful for the dedication of our founders, team, advisors and community. It’s with them in mind, that I’d like to share some news.
I’m excited to announce today that we’re launching our first venture capital fund and that we’re changing how we work with startups. Moving forward, Heavybit will invest $250k to $1m in every company accepted into the accelerator. We’ll tailor each investment to each company and want to invest for the long haul: we’ll continue to fund Heavybit companies from Seed through Series B. We’ve already made a number of investments under this new model including Avo, Tonic, Moesif, Sanity, Pusher, Radar, Snyk, and CircleCI.
Our 9-month accelerator has always been focused on helping founders with their early go-to-market. The way we do that today is by providing a tailored strategic and operational plan, structured weekly mentorship, 1:1 check-ins, domain-specific educational events, and benchmarking against some of the best companies in the industry. To get a better sense, you can look at what some of our companies have to say about Heavybit, learn from our advisor content in the Heavybit library, attend our events or subscribe to monthly updates. We’re committed to building a different kind of firm. A firm that gives founders pragmatic stage-appropriate advice as well as the executional support to help them succeed both today, and longer-term. We will continue to iterate and improve Heavybit’s accelerator and encourage you to learn more about the program and reach out with any questions.
Scaling developer or modern enterprise software startups is hard, and every startup comes with a unique set of challenges. Our community of domain experts – our partners and team, advisors, and alumni – have built these types of companies themselves and are helping others do the same. To date, our community has celebrated 9 exits including most recently, PagerDuty (IPOed), Citus Data (acquired by Microsoft) and TreasureData (acquired by ARM). Ninety percent of our alumni have gone on to raise a subsequent round of funding and every founder’s experience (their successes and their failures) feeds into the learning and success of others. That said, we are keen to grow our community even further and so if you’re interested in participating as a speaker, advisor or guest writer, please do apply for our contributor program.
Finally, I’d just like to say that none of this would have been possible without the support of our founders, advisors, staff, and many, many community members. You’ve all helped make Heavybit what it is today. I want to extend a heartfelt thank you to you all for your contributions. I’m excited to write this next chapter together.