San Francisco-based Acceleprise, a B2B SaaS-focused accelerator, has raised $7 million for its second fund. In addition to the fund-raising, Acceleprise is also expanding to New York City and Melbourne.
NEW YORK, NY — December 6, 2017 — Acceleprise, the B2B SaaS focused accelerator based in San Francisco, has raised $7M for their 2nd fund and is expanding to New York City and Melbourne. Applications for all three locations are now open.
To support the New York and Melbourne expansion, Acceleprise has added a new Advisory Board member from each ecosystem. Matt Straz, CEO of Namely, will be joining in NYC and Adir Shiffman, Executive Chairman of Catapult Sports, in Melbourne. Both have successfully built large and growing SaaS companies and are leaders in their respective ecosystems.
“I’m excited to invest in and deepen my involvement with Acceleprise as they expand to NYC,” says Matt Straz. “With our growing SaaS ecosystem, incredible talent pool, and concentration of enterprise customers, I’m confident NYC represents a clear opportunity and will be a great home for Acceleprise in the years to come.”
The NYC program will be in partnership with Work-Bench, the NYC-based enterprise VC fund. The program will be run out of their workspace, which has been at the center of building the enterprise software community in NYC. Jessica Lin, Co-founder and General Partner of Work-Bench, says, “We’re thrilled to partner with Acceleprise, whose program will further grow our NYC enterprise ecosystem and support many more startups to come.”
According to Managing Director, Michael Cardamone, Acceleprise invested in 42 companies out of their first fund in San Francisco between 2014-2016, including companies such as Glassbreakers, Indio and LimeLight. Half of those companies were from outside the Bay Area and collectively, the companies from the first fund have created over 250 new jobs. Acceleprise has already invested in 22 companies out of the 2nd fund through their SF location, including Elliot, Fireflies and Compaas, all from their most recent cohort. They plan to invest in an additional 40 companies across San Francisco and New York out of their 2nd fund, with the Australian fund looking to invest in another 40 companies over the next 3 years.
“While we will always have a major presence in San Francisco, which remains a top market for SaaS startups, it’s become apparent that the SaaS ecosystem is rapidly expanding globally,” said Michael Cardamone. “Supporting early stage entrepreneurs through our hands on, mentorship driven program in markets like New York and Melbourne is the best thing we can do to help in building the global SaaS ecosystem and the next generation of great SaaS companies.”
In addition to expanding the Acceleprise advisory board, Acceleprise also welcomes Whitney Sales as a new General Partner in the fund to run the San Francisco location, Nina Stepanov as an Associate to support Michael Cardamone in NYC, and Rohit Bhargava as Program Director in Australia to run the Melbourne location along with Adir. To learn more about the growing team and expansion to New York City and Melbourne, click here.
About Acceleprise: Acceleprise is the B2B SaaS accelerator backed by leading operators from companies like Box, Salesforce, Zuora and Cisco. Acceleprise invests $50K initially and provides a 4 month program that offers hands on mentorship, sales coaching, and introductions to customers and investors. They have invested in 64 companies to date that have gone on to raise from funds like NEA, 8VC, SV Angel, Bowery Capital, Susa Ventures, Salesforce Ventures and many others.