Next Coast Ventures

Founded 2015
Founders Michael Smerklo Thomas Ball

Overview

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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.
Total investments 49
Average round size
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The average size of a deal this fund participated in
$11M
Portfolio companies 40
Rounds per year 8.17
Lead investments 7
Follow on index
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How often the fund supports its portfolio startups at next rounds
0.29
Exits 6
Key employees 2
Stages of investment
Early Stage Venture
Late Stage Venture

Areas of investment

  • Software
  • Internet
  • SaaS
  • Health Care
  • Enterprise Software
Summary

In 2015 was created Next Coast Ventures, which is appeared as VC. The main office of represented VC is situated in the Austin. The fund was located in North America if to be more exact in United States.

The usual cause for the fund is to invest in rounds with 4-5 partakers. Despite the Next Coast Ventures, startups are often financed by True Ventures, ATX Venture Partners, Techstars. The meaningful sponsors for the fund in investment in the same round are Capital Factory, True Ventures, Pathbreaker Ventures. In the next rounds fund is usually obtained by True Ventures, Pathbreaker Ventures, Goodwater Capital.

The fund was created by Michael Smerklo, Thomas Ball. Besides them, we counted 4 critical employees of this fund in our database.

For fund there is a match between the location of its establishment and the land of its numerous investments - United States. Among the various public portfolio startups of the fund, we may underline ScaleFactor, Osano, Stoplight Among the most popular fund investment industries, there are Information Technology, Software. The fund has no exact preference in some founders of portfolio startups. When startup sums 4 or 5+ of the founder, the probability for it to get the investment is little. Besides, a startup requires to be at the age of 2-3 years to receive the investment from the fund.

The higher amount of exits for fund were in 2019. The top activity for fund was in 2019. Opposing the other organizations, this Next Coast Ventures works on 25 percentage points less the average amount of lead investments. The common things for fund are deals in the range of 5 - 10 millions dollars. When the investment is from Next Coast Ventures the average startup value is 100-500 millions dollars. The real fund results show that this VC is 13 percentage points more often commits exit comparing to other companies. The fund is constantly included in 7-12 deals per year.

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Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

Eterneva

Jewelry
Precious Metals
Wellness
$10M26 Jul 2021 Austin, Texas, United States

CrowdHealth

Health Care
Health Insurance
$6M07 May 2021 Austin, Texas, United States

Enboarder

Employee Benefits
Human Resources
Information Technology
Internet
SaaS
Software
$4M06 Apr 2021 Sydney, New South Wales, Australia

Aclaimant

Customer Service
Internet
Internet of Things
Software
$15M01 Apr 2021 Chicago, Illinois, United States

UpEquity

Financial Services
FinTech
Real Estate
$7M11 Feb 2021 Austin, Texas, United States

Kronologic

B2B
Business Development
Enterprise Software
Marketing Automation
Sales Automation
Scheduling
$3M29 Dec 2020 Austin, Texas, United States

EverlyWell

Health Care
Medical Device
mHealth
Mobile Apps
Wellness
$175M03 Dec 2020 Austin, Texas, United States

Hip eCommerce

Collectibles
E-Commerce
Marketplace
Online Auctions
Online Portals
$5M29 Oct 2020 Raleigh, North Carolina, United States

GigaPoints

Credit Cards
FinTech
Information Technology
Software
$1M06 Oct 2020 San Francisco, California, United States
News
UpEquity Closes $50M Series B Funding Round to Democratize Homebuying

– UpEquity has closed a $50m Series B funding round led by S3 Ventures with $20m in equity and $30m in debt.
Next Coast Ventures also participated in the round, along with BP Capital Management, Alumni Ventures, Gaingels, Launchpad Capital and Early Light Ventures.
– UpEquity has seen year-over-year revenue growth of 500% and has raised a total of $77m to date.
– The company anticipates originating more than $1bn in mortgages over the next 12 months.
S3 Ventures Partner Charlie Plauche will be joining the UpEquity board.
– UpEquity is part of a new class of startups called Power Buyers that are enabling homebuyers to make all-cash offers.

Sales meeting booking platform Kronologic nabs $20M

– Kronologic, which is developing what it describes as a “calendar monetization” platform, announced that it secured additional seed funding from Signal Peak Ventures, Silverton Partners, Next Coast Ventures, and Geekdom Fund, bringing its total raised to $20 million.
– Cofounder and CEO Trey Allison says that the proceeds will be put toward supporting customer growth and enhancing the platform’s features and AI capabilities.
– In an age of digital sales, the “last-mile problem” refers to a failure to convert leads to sales appointments. One survey found that it takes an average of 18 calls to actually connect with a buyer. Another estimates that 60% of customers say no four times before agreeing to make a purchase.

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