Startup

This Week’s Top Seed Companies to Watch — NuxtJS, CrosscHQ, Milkrun, LucidLane, BasicBlock

We see about 5,000 startups each week, and I want to give you a glimpse into how we at e.ventures think about trending tech companies and tracking new investment opportunities. In this post, I’m highlighting top tech companies that have announced or raised a seed round within the past week.

Be the first to hear about my insights in my weekly email.

Happy Monday!

Some notable industry news from last week:

Facebook buys the leading Gif discovery marketplace Giphy for $400M. The company raised its Series A led by Betaworks in 2014 and had since raised over $150M in venture funding from folks such as Lightspeed and DFJ Growth.

Self-driving car technology company Waymo raises $750M at a $2.25B valuation from Silver Lake, Canada Pension Plan Investment Board, and Mubadala Investment Company. Waymo started out as a Google Project and has since raised $3B in outside capital.

Here are my top seed investments from the last week:

Nuxt JS

EVA Growth Index:

Product:
Open-source framework for web development in the programming language VUE

Investors:
Firstminute CapitalKima Ventures

Total Raised:
$2M

Business Model:
No monetization strategy yet, outside of consulting

Comparables:
N/A

X-Factors:
1. Eases the development of the new primary web developer language VUE

2. Incredible EVA Growth

Thoughts:
Major tailwind in the NuxtJS open source project on Github. Over 27K stars right now. Exciting company to track.

CrossCHQ

EVA Growth Index:
No external sources showing growth

Product:
Cloud-based digital referencing and talent sourcing solution

Investors:
GGVBessemer

Total Raised:
$4M

Business Model:
SaaS subscription

Comparables:
Xref

X-Factors:
1. References by the click of a button to let businesses hire faster with confidence

2. Breadth across tens of industries including government, technology, government, retail, and hospitality

Thoughts:
Market tailwinds with more hiring done remotely. With less time spent in person, the importance of references increases.

MilkRun

EVA Growth Index:

Product:
Online marketplace and grocery delivery service that connects consumers and chefs directly with hundreds of local farmers

Investors:
Techstars

Total Raised:
Undisclosed

Business Model:
Take-rate on the food sold through the platform

Comparables:
Grubmarket

X-Factors:
1. Compressed supply chain, which likely means better food for the end customer

2. This is the third food-related organization that the CEO and Founder has helped launch

Thoughts:
Ample opportunity for new entrants in and around grocery delivery. Wait times are too long currently; customers are seeking alternatives. Additionally, people want to support their local farms as best they can. Produce is always north of 50% of the SKU count for grocery orders, so by offering higher quality products one can capture a fair amount of grocery spend. With that being said, customers are price conscious on their produce.

LucidLane

EVA Growth Index:
No external sources showing growth

Product:
Telehealth solution to help individuals with medication dependence and substance use disorders by connecting them with the most applicable therapist

Investors:
Battery Ventures

Total Raised:
$4M

Business Model:
Priced around individual treatment plans

Comparables:
Betterhelp (not a perfect comp)

X-Factors:
1. Large market opportunity with no clear breakaway online provider in the mental health market.

2. The CEO was the Founding CTO at Livongo Health

Thoughts:
We can only hope that this is the solution that makes mental health care easier to access for the masses. In addition to mental health, Lucid offers services focused on pre and post-surgery as well as chemotherapy.

BasicBlock

EVA Growth Index:
No external sources showing growth

Product:
Smartphone-based document scanning for trucking operators

Investors:
Invest Nebraska, Emergent Ventures, Global Financial Group

Total Raised:
$4.2M

Business Model:
SaaS subscription

Comparables:
N/A

X-Factors:
1. The tool to shift a paper-based industry into digital

Thoughts:
DocuSign is a $22.5B market cap business. Digitizing the paper for a $700B market in the U.S. feels like the kind of thing venture capitalists like to invest in. :)

>> See last week’s Seed Companies to Track >>

https://medium.com/eventuresvc-news/this-weeks-top-seed-companies-to-watch-banked-graphcms-daily-returnlogic-zynbit-fc8bbda865ba

Brendan Wales is a Partner at e.ventures, a global venture capital firm investing in consumer and software companies from early to growth. Since joining e.ventures in 2012, he has been a Seed or Series A investor in Segment, Shipt, HousecallPro, Fetch Rewards, Test.ai, and Shopmonkey.

You can connect with Brendan on LinkedInTwitter, or by following him on Medium.

What is the EVA Growth Index?
The EVA Growth index is a composite of third-party data sources around a company’s website traffic. The vertical green lines in the charts represent a point in time where the company raised outside capital.