Seeding the Future: Sample Deals From Our Portfolio
December 11, 2020 | Abree Murch
Our “Seeding the Future” series explores trends, opportunities, and companies from the seed and pre-seed venture world. This is the investment focus of AVG’s newest Basecamp Fund. The fund closes at the end of December! Click below to learn more.
A Portfolio Snapshot
The current Basecamp fund closes at the end of this month and the team has already been busy building the portfolio. Check out some of the deals below — and stay tuned for many more.
Bandit ML’s SaaS platform leverages machine learning to develop personalized promotions on the individual customer level. The biggest merchants (Amazon, Uber, etc.) already employ sophisticated personalization and dynamic pricing. But until now, the 800,000 mid-cap and long-tail ecommerce merchants haven’t been able to afford the talent and tech to leverage these strategies. We participated in a $1M pre-seed round comprised of an excellent syndicate of early stage investors and numerous highly relevant and well-pedigreed angel investors with deep domain expertise/networks.
Centered is a workplace productivity app tackling a familiar problem with a new approach and business model. They’re addressing three growing trends: the increased need for workplace productivity, the focus on wellness in an increasingly stressful world, and the “prosumerization” of the enterprise. In an era when workers laboring from home are feeling isolated, stressed, and maxed out, Centered meets them where they are, addressing both productivity and wellness. We participated in a $3M seed round led by Uncorked Capital, with participation from Remote First, Shrug, and others.
Welcome is a human capital-focused SaaS platform using a lightweight digital product to produce high-quality offer letters and real-time compensation information to potential new employees. On average, an HR official spends 115 hours from the initial candidate outreach to the offer letter. Welcome helps streamline the hiring process by allowing users to contextualize their entire compensation package, resulting in higher offer acceptance, increased employee retention, and greater employee excitement. We participated in a $6M seed round led by FirstMark Capital. Participating investors included Ludlow Ventures, Nat Turner and Zach Weinberg, and Keenan Rice and Ben Porterfield.
What Our Investors Like About Basecamp
In our conversations with customers, some mentioned being excited about the opportunity to invest in such a large portfolio (~100 deals) of pre-seed and seed investments. Others mentioned our extensive, experienced, and geographically diverse team. For others, Basecamp is a chance to diversify their portfolio at the earliest stage of investing where the risk and rewards can be the highest.
AVG’s Basecamp Fund offers investors a portfolio of ~100 pre-seed and seed investments diversified across sector and region. Approximately 25% of the fund is reserved for follow-on investments. Minimum starts at $25K. The fund is now open! Click below to learn more.