Total amount raised
$5.4 Millions
Latest funding date
Location
Navattic has successfully raised funding through a Seed round, attracting the support of seven investors, including Canvas Ventures and 645 Ventures. The company specializes in providing interactive product demos that help marketing and sales teams engage prospects more effectively.
Keep reading to explore the intricacies of Navattic's fundraising journey and the investors backing this innovative platform.
What Is Navattic?
Navattic, founded in 2020, is based in New York, New York. The company was established by Chris Hoyle, Neil McLean, and Randy Frank.
Navattic specializes in providing a no-code platform for creating interactive product demos. These demos can be embedded on websites or shared directly, helping marketing and sales teams engage prospects more effectively.
With a team of 11-50 employees, Navattic offers services like tracking buyer engagement, CRM integrations, offline demos, workspace organization, and account-based engagement.
How Much Funding Has Navattic Raised?
- Pre-Seed Round
- Amount Raised: $125K
- Date: January 2021
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their no-code platform for interactive product demos.
- Seed Round
- Amount Raised: $1.1M
- Date: May 2021
- Lead Investors: 645 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Seed Round
- Amount Raised: $4.2M
- Date: March 2022
- Lead Investors: Canvas Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in product development and customer success, aligning with their objective to be the best place for customers.
- Grant
- Amount Raised: -
- Date: May 2020
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial research and development efforts.
Total Amount Raised: $5.425M. Current Valuation: Not publicly disclosed.
Key Investors
The major investors in Navattic are:
- Canvas Ventures
- Details: Canvas Ventures is a venture capital firm that led the financing round for Navattic. They focus on early-stage technology companies with high growth potential.
- Investment Focus Areas: Early-stage technology companies, high growth potential.
- Notable Investments: Zola, Roofstock, Luminar Technologies.
- 645 Ventures
- Details: 645 Ventures is a venture capital firm that participated in the financing round for Navattic. They invest in early-stage companies, particularly those in the technology sector.
- Investment Focus Areas: Technology sector, data-driven decision-making, scalable business models.
- Notable Investments: Iterable, FiscalNote, Goldbelly.
- Y Combinator
- Details: Y Combinator is a startup accelerator that was one of the early investors in Navattic. They have a strong track record of supporting early-stage startups.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Airbnb, Dropbox, Stripe.
Navattic's disclosed valuation status: Not publicly disclosed.
What's Next for Navattic?
Navattic stands at the cusp of a significant opportunity, driven by the rising trend of product-led growth. With companies increasingly seeking 'try before you buy' experiences, Navattic's interactive product demos are poised to become indispensable tools for sales and marketing teams. The adoption by industry giants like Citrix and Fivetran underscores the vast potential market.
Future fundraising rounds, likely including Series A and beyond, will be crucial as Navattic scales its operations. The focus will be on aligning with investors who prioritize team growth and product development. However, challenges such as meeting high customer expectations and staying ahead of competitors in a rapidly evolving space will need to be navigated carefully.
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