Messaging app Sochat reels in $2 mln

By Iris Dorbian — 3 months ago

Messaging app and connection platform Sochat has raised $2 million in Series Seed funding. Eniac Ventures led the round with participation from WeChat founder Allen Zhang, New Enterprise Associates, Greylock Partners, Slow Ventures, Foundation Capital, Betaworks, Maiden Lane and Steven Sinofsky of Andreessen Horowitz. Fenwick & West LLC advised Sochat on the transaction.

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Series A Crunch Worsens

By Mark Boslet — 3 years ago

Fenwick & West’s annual seed financing study found that the Series A crunch has worsened. The survey found that 45% of companies receiving seed funding in 2010 raised a Series A funding by the end of 2011. But only 27% of companies receiving seed funding in 2011 had raised a Series A funding by the end of 2012. What’s more, nearly a quarter of companies funded in 2011 raised follow-on seed financing compared with just 12% the year before.

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