{"id":24962,"date":"2025-01-12T22:48:24","date_gmt":"2025-01-12T22:48:24","guid":{"rendered":"https:\/\/peraltafinancing.com\/angel-investor\/why-channel-angels-funded-these-12-technology-startups-channel-angels\/"},"modified":"2025-01-12T22:48:24","modified_gmt":"2025-01-12T22:48:24","slug":"why-channel-angels-funded-these-12-technology-startups-channel-angels","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=24962","title":{"rendered":"Why Channel Angels Funded These 12 Technology Startups \u2014 Channel Angels"},"content":{"rendered":"


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Here\u2019s a look at our investments for 2023, and why we opened our wallets to back these companies (sorted alphabetically).<\/p>\n

1. <\/strong>Evo Security<\/strong><\/a> (cybersecurity for MSPs, SMBs):<\/strong> Evo develops Identity and Access Management (IAM) software that allows MSPs to safeguard SMB customer networks. The IAM market is highly fragmented and growing. And most IAM companies don\u2019t fully understand MSP business needs. This is our second investment in Evo.<\/p>\n

2. <\/strong>Flex<\/strong><\/a> (FinTech for SMBs):<\/strong> Most of our angels have first-hand experience managing small business finances. With that reality in mind, we invested in Flex \u2014 a \u201csuper app\u201d designed to help SMBs manage credit, banking, payments and insurance. Hundreds of SMBs have adopted the app. Flex in September 2023 announced a <\/strong>debt and equity funding round, which includes debt financing from CIM<\/strong><\/span><\/a>\u00a0with an agreement to fund up to $100 million. The round also includes $20 million in equity capital led by Florida Funders<\/strong><\/span><\/a>\u00a0with participation from Home Depot Ventures<\/strong><\/span><\/a>,<\/span><\/a>\u00a0MS&AD Ventures<\/strong>,<\/span><\/a>\u00a0Companyon Ventures<\/strong><\/span><\/a> and others.<\/p>\n

3. <\/strong>Lightmatter<\/strong><\/a> (cloud-scale hardware for AI): <\/strong>As you may have heard, AI applications demand considerable hardware horsepower and energy consumption<\/strong><\/a>. So far, Nvidia<\/strong><\/a> is the poster child for AI chips. But we think there\u2019s room for something better in the market. For instance, Lightmatter develops \u201cphotonic\u201d technology that allows cloud providers to more effectively and efficiently scale AI workloads. The company raised $154 million in Series C funding<\/strong><\/a> from SIP Global<\/strong><\/a>, Fidelity Management & Research Company<\/strong><\/a>, Viking Global Investors<\/strong><\/a>, GV (Google Ventures)<\/strong><\/a>, HPE Pathfinder<\/strong><\/a> and existing investors. Lightmatter\u2019s valuation reached $1.2 billion<\/strong><\/a> in December 2023, Bloomberg reported.<\/p>\n

4. <\/strong>Nuview<\/strong><\/a> (sustainability):<\/strong> This company competes outside of our core channel market. But we also have a growing interest in sustainable technology. (Our sister company, after all, is Sustainable Tech Partner<\/strong><\/a>.) Nuview is an earth observatory company develops geospatial technology to help solve the most \u201cchallenging scientific, environmental, and commercial problems.\u201d Key Nuview investors include Leonardo DiCaprio<\/strong><\/a> and MaC Venture Capital<\/strong><\/a>, along with Broom Ventures<\/strong><\/a>, Cortado<\/strong><\/a>, Florida Funders, Industrious<\/strong><\/a>, Liquid2<\/strong><\/a>, and Veto Capital<\/strong><\/a>. We\u2019re watching to see whether ISVs will be able to plug into the platform\u2026<\/p>\n

5. <\/strong>SpaceX<\/strong><\/a> (aerospace):<\/strong> This is another opportunity that competes outside of our core channel partner focus. As most of the world knows, SpaceX designs, manufactures and launches advanced rockets and spacecraft. Yes, we\u2019ve gone long on SpaceX prior to their IPO\u2026<\/p>\n

6. <\/strong>Ternary<\/strong><\/a> (cloud cost management):<\/strong> In many enterprises and even small businesses, runaway cloud costs are the norm. Further complicating matters, partner-friendly cloud cost management tools are hard to find. That explains why we invested in Ternary \u2014 a Google Cloud cost management for MSP partners<\/strong><\/a> & customers. The company raised $12 million in Series A funding led by Jump Capital<\/strong><\/a>, with continued support from existing investors Fin Capital<\/strong><\/a>, RiverPark Ventures<\/strong><\/a>, Great Oaks Venture Capital<\/strong><\/a>, and Gaingels<\/strong><\/a>.<\/p>\n

7. <\/strong>Togal.ai<\/strong><\/a> (cloud-based construction estimation software):<\/strong> The company\u2019s software can automatically detect, measure, compare and label project spaces and features on architectural drawings. Togal.ai in March 2023 raised $5 million in a pre-Series A SAFE round with a $50 million valuation cap. <\/p>\n

8. <\/strong>Vali Cyber<\/strong><\/a> (Linux security): <\/strong>Much of the Internet runs on Linux servers and virtual machines, which makes the operating system a prime target for cyberattacks. Vali Cyber wants to safeguard that vector from attack. And they\u2019re working with MSSP and MDR partners<\/strong><\/a> to boost cybersecurity worldwide. The company raised $15 million in Seed funding in September 2023, led by Grotech Ventures<\/strong><\/a> and the 412 Venture Fund (412VF)<\/strong><\/a>. Additional investors included Riverfront Ventures<\/strong><\/a> and Florida Funders, among others.<\/p>\n

Four Undisclosed Deals<\/strong>: I\u2019m not blogging about four of our 2023 investments because the details remain undisclosed. The four startups involve cybersecurity, data protection, industrial robotics, and e-commerce scalability. All four companies have emerging channel partner programs.<\/p>\n

Our Next Investments:<\/strong> We plan to remain responsibly active in 2024. If you\u2019re seeking funding, please fill out this form<\/strong><\/a>. If you\u2019re an established or aspiring angel investor who would like to explore potential investments with Channel Angels, then please complete this form<\/strong><\/a>.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a look at our investments for 2023, and why we opened our wallets to back these companies (sorted alphabetically). 1. Evo Security (cybersecurity for MSPs, SMBs): Evo develops Identity and Access Management (IAM) software that allows MSPs to safeguard SMB customer networks. The IAM market is highly fragmented and growing. And most IAM companies […]<\/p>\n","protected":false},"author":1,"featured_media":24963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12034],"tags":[2214,4552,16973,14901,3912],"dealstore":[],"offerexpiration":[],"class_list":["post-24962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-angel-investor","tag-angels","tag-channel","tag-funded","tag-startups","tag-technology"],"yoast_head":"\nWhy Channel Angels Funded These 12 Technology Startups \u2014 Channel Angels - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=24962\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Channel Angels Funded These 12 Technology Startups \u2014 Channel Angels - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Here\u2019s a look at our investments for 2023, and why we opened our wallets to back these companies (sorted alphabetically). 1. Evo Security (cybersecurity for MSPs, SMBs): Evo develops Identity and Access Management (IAM) software that allows MSPs to safeguard SMB customer networks. The IAM market is highly fragmented and growing. 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