Hassle-free shipping solution startup Shipitwise (Estonia) has successfully closed its Funderbeam campaign, increasing its valuation to 2.5 million euro, only 3 months after graduation from B2B accelerator Startup Wise Guys (SWG) 6th batch last April. Thus Shipitwise joins the club of Vitafields, Investly, coModule, Leaf, sportID and other startups accelerated by SWG and reaching valuation above 2 million euro.
"I must admit, that the decision to apply for Startup Wise Guys program was the best decision what we’ve made so far. We have not only received a bunch of great mentors and investors, but the amazing network of people and companies who are willing to support us on our way to the top. Mentioning that Shipitwise is SWG alumni opens most of the donors and is a quality sign," said Aleksander Gansen, CEO and Co-founder of Shipitwise.
"We have seen incredible potential in our 6th batch. Shipitwise and CallPage (Poland) are just two examples of companies that have recently raised funding, but we have four more of them in advanced funding negotiations. So while today we can affirm our 6th batch portfolio valuation has doubled in just r months, I am confident it may be four times higher by the end of the year," says Cristobal Anonso, SWG Global CEO.
Taking into account that on average 1 out of 10 investments from VSc does truly succeed, having 9 companies out of 28 in the last 3 batches heading into the right direction (while 3 of them closed) is a very good sign of the accelerator’s performances.
This success might be related to SWG specialization for the last 3 batches only in B2B companies working on SaaS based models mostly from the CEE region. This allows to focus and recruit more and more promising companies with teams that are ready to work hard and absorb all the the advices, coaching and mentoring coming from passionate team and extensive curriculum based program.
While SWG is not directly targeting unicorns, they intend to build a portfolio with a minimums of 10 B2B companies with a minimum total valuation of 100 million euro by 2020. This expansion in the CEE and the Baltics is a logical step and SWG plan to open three or four more accelerators in coming 18 months. Right now they have just launched its newest program in Riga, Latvia.
Startup Wise Guys Riga powered by Lattelecom is accepting applications until July 31st and will start its program by September 19th.
SWG is the leading B2B startup accelerator in Europe that until now has accelerated 52 companies with founders from over 30 countries and have completed 6 cohorts. SWG portfolio includes companies like Sorry as a Service, Leaf.fm, Investly, Citafields, sportID.