Firstbase announced that they raised USD 13 Million in series A funding round on the 29th of April, 2021. The investors in this round were Alpaca VC and Andreesen Horowitz. B capital group. It focuses on building a hardware and software solution that can aid remote workers to get the support and tools they need.
Firstbase started by having a whole different product idea and had to do something entirely different in the market. With a fintech bent, the venture went remote in 2018. Founder and CEO of Firstbase said that in the beginning, it was hard to bring workers the technology they wanted, and getting it back from the employee once they left the company was even more challenging.
Last year during the seed round, Firstbase raised USD 2.1 million in August 2020. The leading investors for them in that round were Alpaca VC. They even had raised a certain amount in January 2020, but it isn’t disclosed yet.
About the Investors:
Alpaca VC –
Alpaca VC, formerly known as Corigin Ventures, was founded in 2013. It is a venture capital-focused firm situated in New York. The company looks for investing in pre-seed and seed rounds across Canada and the US. They invest in companies that work on technology for daily life and transform how the real world works.
Alpaca VC’s successful investments include Transfix, Wheels Up, Imperfect Foods, Bowery Valuation, and Compass.
Andreessen Horowitz –
Andreessen Horowitz, also known as a16z with a legal name of AH Capital Management, LLC, is a private venture capital company. It started in 2009 in America by Marc Andreessen and Ben Horowitz, having its headquarters in California.
Andreessen invests in the early stages and well-grown companies. They invest in companies from various sectors like social, e-commerce, gaming, mobile, enterprise IT and education.
About the Firstbase
Firstbase is a SaaS platform for remote work that let companies manage and track physical assets. It makes work from home easy and comfortable for distant workers. The company is founded by Chris Herd, the CEO and Trey Bastian, the CTO. It also has an advisor named David Ulevitch.
The company handles It installation, ongoing repairs, culture, perks, deployment of assets and collections when employees leave the company. Till now, the company has been funded by 18 investors and have raised around USD 15.2 Million.
Words from founder –
“Most organizations underestimate the complexity and cost of going remote. Typically, HR, IT and facilities teams are involved in getting a single employee set up with hardware, access and security. With so many people involved, mistakes are often made, costs are incurred and time is wasted.” – said Chris Herd, CEO Firstbase.
“Our solution removes the hassle and friction from the remote setup and promises a better experience for everyone – emotionally, logistically and financially. The same is true on the other end, when an employee leaves, we take the headache out of collecting, tracking and redeploying the equipment.” – he added.
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