by Anthony Ha and Kristin McDonald

Image: Getty Images/jayk7

Welcome back to Ask a Seed VC, Eniac’s advice column about startup fundraising and investing. Today’s question comes from a founder who requested that they remain anonymous:

My startup has seen some very strong growth recently, having gone from $0/mo -> $50k/mo in revenue in the past 6 months but as we bring a new model (content licensing) to what is still a nascent industry (digital wellness) we often get questions around market sizing.

Although some investors just get it, I have struggled to consistently answer these questions due to a lack of data…

by Hadley Harris

Image: Owlet

After announcing plans to go public via SPAC earlier this year, it’s official: Our portfolio company Owlet is now trading on the New York Stock Exchange under the ticker symbol OWLT.

Owlet is building an ecosystem of connected nursery products, starting with a Smart Sock that allows parents to monitor their baby’s heart rate, oxygen level, sleep patterns, and more. The Smart Sock can be paired with the Owlet Cam to provide a more complete picture of baby’s well-being.

It’s been quite a journey since our initial seed investment in 2014. We don’t want to pat ourselves…

Image: Getty Images/mrs

Welcome to the first installment of “Ask a Seed VC,” Eniac’s new advice column all about startup fundraising and investing. We’re going to kick things off with a question from Matthew Perry, founder and chairman at The Traffic Channel:

How can I pitch my start-up to a VC if I do not have a warm introduction? Sending my pitch “blindly” via email is not working. How can I get my idea legitimately heard?

This, of course, is a question that many founders ask when they’re first trying to raise funding, and it can be particularly acute for those from underrepresented…

Eniac Ventures is still growing! We announced three new hires back in May, and we’ve added another two since then. That means there are now a grand total of eleven people on the team (soon to be twelve) — but of course, what really excites us is how impressive our new colleagues are, and how they’re already making Eniac better.

First up is Regan Gore, who’s joining our platform and operations team, where she’s working on everything from administration to HR to finance. …

Piggy bank with question marks
Piggy bank with question marks
Photo via Getty Images

As we announced in the latest Eniac Ventures newsletter, we’re launching a new feature called “Ask a Seed VC.” It’s a simple idea: We know that the world of early-stage startup funding can feel opaque and confusing, so we wanted to create a little more transparency about how it all works.

Eniac’s partners have already been sharing their tips via platforms like Twitter and Clubhouse, but those conversations can be difficult or impossible to track down afterwards. With Ask a Seed VC, we’re aiming to share knowledge that’s useful right now, but that a future founder could also read and…

At Eniac, we invest in the outliers — the Authentic, the Bold, the Curious, the Scrappy. We model our team after the same philosophy, and now we’re looking to bring on a new team member who also exemplifies our “ABCs.”

Eniac leads seed rounds in technical founders across consumer, enterprise, and deep tech. We make a relatively concentrated number of investments each year into high conviction founders and their companies. Now, after 10 years and launching our fifth fund, we’re looking to expand our team to support our investment process.

Position Overview

We are looking to bring on a new analyst into…

Image credit: Getty Images/bakhtiar_zein

For Alloy, finding product-market fit boiled down to one thing: “Not dying.”

That’s what the startup’s co-founder and chief revenue officer Laura Spiekerman told us at Eniac’s most recent Annual General Meeting, where — in addition to interviewing NYC mayoral candidate Andrew Yang and Attentive co-founder and CEO Brian Long — we hosted a panel focused on that theme.

Along with Spiekerman (whose startup offers an identity operating system for financial services companies), we were joined by Zubin Bhettay (co-founder and CEO at veterinary telehealth startup Fuzzy Pet Health) and Mike Kijewski (co-founder and CEO at MedCrypt, which brings cybersecurity…

Attentive’s Brian Long and Eniac’s Hadley Harris

Eniac’s Hadley Harris didn’t mince words when he (virtually) welcomed Attentive co-founder and CEO Brian Long to our Annual General Meeting. In Hadley’s words, Attentive is “the most exciting venture-backed startup anywhere right now.”

You might dismiss such praise as hyperbole from an excited Attentive investor (and Eniac also backed in Brian’s previous startup, TapCommerce, which was acquired by Twitter for $100 million). But as Hadley noted, the startup now has more than 3,000 clients, having grown its customer base by over 270% last year. And it just raised a $470 million Series E.

So the conversation gave Hadley and…

As part of Eniac’s latest Annual General Meeting, we were lucky enough to be joined by some big names for three virtual conversations. Two of the public sessions focused on founder stories and startup strategy, and we’ll posting those videos soon. But first, we’re starting with a bigger picture view from New York City mayoral candidate Andrew Yang.

Even before his presidential campaign helped to bring the idea of universal basic income to the mainstream, Yang was a longtime “friend of Eniac” — particularly with one of our founding general partners, Nihal Mehta. So when the two of them got…

When we announced our $125 million fifth fund Eniac V, we mentioned that we planned to hire six new team members this year. Well, we’re halfway there — three of those new hires are already on the job!

The investment team is growing

First up, we’re excited to share that Eniac has brought on two new investment professionals, Dan Jaeck and Tim Wang. They’ve already become a crucial part of our research and diligence process, and over time, we expect them to play an even larger role in our investment decisions.

Dan Jaeck

Dan is based out of Eniac’s New York office…

Eniac Ventures

We lead seed rounds in bold founders who use code to create transformational companies.

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