(Photo courtesy of FoundersPad)
FoundersPad, an early-stage venture fund with dedicated mentoring, has made an investment in San Francisco-based Opstarts. FoundersPad has been mentoring the start-up since late last year and co-invested with New York-based Zelkova Ventures and Foundry Group Angels.
Opstarts is a financial planning, forecasting and performance management solution for the SaaS market and is led by Co-founder and CEO Deva Hazarika. Opstarts was founded in 2014 by Hazarika who decided to partner with FoundersPad because, “FoundersPad was able to pull together an amazing team of experts to help my company address some of the biggest issues we are facing as a growing start-up. They brought in industry specialists who are very active in helping my team plan, strategize and execute.”
Since working with FoundersPad, Hazarika said he has seen a significant increase in sales and use of the Opstarts platform.
Jason Moyer, FoundersPad fund manager, said the decision to invest was an easy one. “Opstarts elegantly solves the wide gulf in the market between spreadsheets and high-end enterprise solutions. Based on our experience working with small and mid-size businesses, there is an acute need for viable quantitative planning solutions that are more sophisticated than cumbersome spreadsheets. Using Opstarts, businesses now have an option for effectively modelling robust financial scenarios.”
Opstarts had been growing steadily since inception and is now trusted by over 50 subscription-based companies for their planning, forecasting and analysis needs. FoundersPad expects to continue their mentorship with Opstarts through most of 2018 to grow this number and help capture a significant portion of the expected $2.8 billion Enterprise Performance Management market. www.opstarts.com
FoundersPad is an early-stage venture fund with dedicated mentoring that actively engages passionate entrepreneurs on their company-building journey. Learn more about FoundersPad at www.founderspad.com or by emailing info@founderspad.com.
Compliance Note: FoundersPad Fund I, LLC has already closed; participation has been limited to certain accredited investors by private invitation only. This informational press release is not an offer to sell or solicit investment in the Fund, its portfolio companies, or any other instrument. FoundersPad does not operate as a broker-dealer or investment adviser and is not registered as such with any federal or state securities regulator.
