Bay Angels Blog

Welcome to the first of many blog posts in this series where we spotlight some of the most exciting companies that have come through the Bay Angels pipeline over the past few years. In the fast-paced world of startups and venture capital, success stories often emerge from the strategic collaborations and investments facilitated by organizations like Bay Angels. As we cross into the second half of 2024, let’s look back on 6 outstanding Bay Angels pitch event alumni that have made some remarkable accomplishments in the first half of this year.1. Trace3D’s $2 Million Funding RoundIn April, Trace3D, a cutting-edge tech startup specializing in 3D modeling and visualization software, announced a major milestone — a $2 million pre-seed funding round led by Rev1 and Impellent Ventures. Trace pitched at Bay Angels in our January 2024 virtual pitch event and shared how their no-code technology empowers business to create highly detailed and realistic simulations. This funding injection will fuel Trace3D’s continued innovation in the fields of AR and 3D technology, allowing them to expand and scale their operations to meet growing market demands.2. QuarkXR’s Seed Funding SuccessAnother outstanding startup that works with AR and VR is QuarkXR, which pitched with Bay Angels in-person in March of 2023. QuarkXR develops software and tools that allow companies to integrate AR into their operations, enhancing training, marketing, and customer engagement experiences. In February of this year, QuarkXR secured around €225,000 in seed funding from New Vision 3, a testament to the market’s confidence in their AR solutions. This funding will empower QuarkXR to further develop their AR platform, bringing immersive experiences to industries ranging from education to entertainment.3. OtisHealth’s Vibrant Presence at Vive 2024OtisHealth, a healthcare startup dedicated to leveraging technology for wellness solutions that pitched with Bay Angels in our virtual April 2023 pitch event, made waves in February 2024 by being featured in and sponsoring the prestigious Vive 2024 healthcare conference. This platform at Vive allowed OtisHealth to showcase their innovative approach to healthcare, which involves using personalized data insights and virtual care options to help individuals manage and improve their health. OtisHealth’s experience at Vive 2024 paves the way for future partnerships and collaborations.4. Algoface’s Success in Microsoft for Startups ProgramAlgoface, an AI-driven facial recognition company, has been on a winning streak since the beginning of the year. Algoface, which pitched in a virtual Bay Angels event in July of 2023, develops algorithms and software to enable facial recognition for various applications, including security systems, access control, and personalized user experiences. Not only did they gain acceptance into Microsoft for Startups program in April, but they’ve also secured numerous grants totalling $425,000 since the beginning of this year through the National Science Foundation and as an awardee of the 2023 Arizona Innovation Challenge. This recognition and support validates Algoface’s technological prowess and market potential, positioning them as a key player in the facial recognition landscape.5. Berri Organics’ Sports SponsorshipBerri Organics, a startup that produces organic, environmentally friendly beverages made from high-quality fruits and vegetables, made a splash in February by sponsoring the World Jai-Alai League. Bay Angels was privileged to have Berri Organics pitch last year in our May 2023 pitch event. This strategic partnership with the World Jai-Alai League not only increased Berri Organics’ brand visibility but also aligned them with the values of athleticism, health, and competition, resonating with their target audience.6. Loopie’s Acquisition of BidbudFinally, Loopie, a company specializing in e-commerce laundry services, strengthened its market position in March by acquiring Bidbud, a competitor in the online bidding space. In May, Loopie then sold its Seattle and Portland operations to HappyNest and Rinse, paving the way for more innovation while upholding the same great service. Loopie Laundry, which pitched virtually in Bay Angels’ April 2023 pitch event, provides mobile app-based laundry services that prioritize convenience, eco-friendly practices, and quality care. These strategic sales and acquisitions will help Loopie to continue to expand and improve its services.Bay Angels is so excited for what is coming next for these innovative startups! Bay Angels continues to be a catalyst for achievements such as these, nurturing promising startups and fostering a thriving entrepreneurial ecosystem through connecting groundbreaking startups with experienced investors. If you’re a founder looking to pitch with Bay Angels, please click here for more information. If you would like to become a Bay Angels member, whether you’re a first time investor or an experienced angel, please click here or reach out to our memberships team at memberships@bayangels.com. Bay Angels is proud to host monthly pitch nights featuring some of the most cutting edge startups and veteran investors. We look forward to seeing you at future events!About the Author: Allison Chow, Junior Member at Bay AngelsAllison has been a junior member at Bay Angels since 2023. She is excited about all things business and is currently working on obtaining her degree in Business Administration with an emphasis in finance.

Two weeks ago, on June 27, Bay Angels hosted one of its most successful pitch events of the year at the Silicon Valley Capital Club in downtown San Jose. The event was a gathering of over 75 seasoned professionals and angel investors, featuring presentations from five dynamic startups and insightful feedback from three distinguished investor judges. The evening was a blend of networking, pitch presentations, and lively discussions, all against the backdrop of a panoramic view of downtown San Jose.About the JudgesThe panel of judges for the event included three prominent figures in the startup and investment community: Selina Zhang, James Gee, and Roger King. Selina Zhang, Co-Head of the Dealflow committee at Bay Angels, brought her expertise in Venture Capital and corporate development to the table. James Gee, Global Partnerships Manager at Startup Grind, contributed from his experiences supporting the growth of startups spanning 150 countries worldwide. Roger King, founder of Bay Angels and CEO of ChiefPeople, provided invaluable leadership and insight, drawing on his 26 years of experience nurturing Bay Angels into the established organization it is today.About the StartupsBay Angels was privileged to host 5 incredible startups, each with a game-changing approach to disrupt their industry. Each pitch event is special, but this month our startups really stood out as unique, valuable investment opportunities for seasoned and first time investors alike.Novelte Robotics — led by CEO and Co-Founder Albert Lam, Novelte Robotics specializes in advanced robotics solutions, aimed at enhancing daily life through intelligent automation.Tweelin — CEO Dario De Santis presented Tweelin, a B2B SaaS company revolutionizing communication with AI-driven solutions that transform 1:1 meetings into dynamic conversations.Radivision — Mona DeFrawi, CEO & Founder of Radivision, showcased a startup world streaming and community platform with AI-driven investor private market & IPO lead-gen tools, empowering startups to thrive.Trustr — CEO Bill Cummings introduced Trustr, a travel-focused social network & discovery platform that enables people to share and discover properties within a network of people they know and trust.CoachTube — Wade Floyd, CEO of CoachTube, presented an innovative platform offering over 7000 premium sports courses across 50 different sports, making sports coaching accessible worldwide.ReflectionsThe Bay Angels community celebrates this successful June pitch event and the meaningful connections forged between investors and founders. Bay Angels remains committed to supporting entrepreneurship and innovation in the Silicon Valley through hosting our monthly pitch events as well as our member benefit events, partner events, and local conferences we support. We invite you to mark your calendars for our next Bay Angels pitch event online on the evening of July 31 and witness the future of entrepreneurship. To get involved with Bay Angels, please reach out to us at bayangels.com where you can either apply to pitch or to become a member of our thriving group of investors and startup experts.About the Author: Allison Chow, Junior Member at Bay AngelsAllison has been a junior member at Bay Angels since 2023. She is excited about all things business and is currently working on obtaining her degree in Business Administration with an emphasis in finance.

Mastering Startup Due Diligence: Lessons from Bay Angels’ Exclusive Session with Lonergan Partners (FREE Founder Checklist and Slides Included)Bay Angels organized the first of many member educational events this past Thursday, June 20th, hosted at the Silicon Valley Capital Club, one of Bay Angels’ partners. Bay Angels was honored to have Kirsten Settle, Partner at Lonergan Partners, share about the art of analyzing the founders and teams of a potential startup investment. Lonergan Partners, located in Menlo Park, is one of Bay Angels’ newest partners, and their mission is to transform tech companies in the Silicon Valley by providing exceptional and unhindered executive search services. Kirsten has been with Lonergan Partners for over 5 years and is widely recognized as one of the most influential executive recruiters in Silicon Valley, specializing in retained searches for top-tier Finance, Go-To-Market, and Engineering talent as well as CEOs and Board of Director positions for both global public and venture-backed enterprise companies. The intimate group of Bay Angels members at the event ranged from investors who have been with Bay Angels for decades to members who have been angel investing for only a year. The evening started with introductions over drinks and hors d’oeuvres, and then Kirsten jumped right into her lively presentation, which at times took on the format of an interactive group discussion, with members jumping in on the conversation with their investment experiences and thoughts.One of my biggest takeaways from Kirsten’s presentation was the reality that most angel investors don’t do enough due diligence on the leadership team of their potential startup investments. Three character traits that investors should look at when analyzing a founding team that were emphasized during the presentation were:Commitment — an “all in” mentality, the startup is not a side gig, it’s a full time responsibilityTeachability — the founder has humility but also confidence in their product/serviceConflict Facilitation — A CEO’s job is to create conflict and solve it, avoidance mentality is a red flagIt was also interesting to hear that in the past year, burnout has been a much greater issue to watch for than ever before, due to a greater societal emphasis on holistic life and family. Kirsten advised taking an additional step to look into the burnout level of the startup leadership team and find out how much they can handle. Although all of these aspects may be difficult to do due diligence on before the investment is made, being aware of what to look for in the leadership team of the startup can make all the difference. The Bay Angels attendees added that investors should continue looking for these traits and red flags even after the investment, so that they can immediately act upon any issues that arise.Kirsten also introduced the “Core Four” leadership roles necessary to get a startup off the ground, from the perspective of an executive recruiter. They are, in order of hiring:CEOCTO/VP EngineeringCFOGTMExperienced investors should look at whether these roles are present, and if not, find out what the plan of the founder is to obtain these roles. They should also consider whether strengths of the people in these roles align with their positions. For example, the CEO should be strategic, personable, and well rounded in business, while the CFO should be very practical and have more extensive fundraising and compliance knowledge.Kirsten shared all of this information and so much more in her presentation, and she even provided members with a checklist of 10 questions to ask when doing due diligence on a founder. Lonergan partners has graciously released this information for everyone to access. If you would like to see the slides and founder due diligence checklist from this exclusive Bay Angels event, they will be available at the end of this blog post.Bay Angels is so grateful for our partnership with Lonergan Partners and the expertise that Kirsten and the team brings. Bay Angels also wants to thank the Silicon Valley Capital Club for their continued partnership and for providing a sparkling venue for this event. This educational event is only the first of many to come for Bay Angels members.As a Bay Angels member, not only do you receive access to all of these educational events, you also get free entrance to all of Bay Angels’ monthly startup pitch events, discounts and perks through Bay Angels partners such as a reduced membership fee to the Silicon Valley Capital Club, and opportunities to network with some of the most experienced professionals in the Bay Area. Join Bay Angels today and become a part of a community dedicated to driving innovation in the Silicon Valley by emailing memberships@bayangels.com or visiting https://bayangels.com/members/.To access your free founder checklist and slides from the event, please click here: https://drive.google.com/drive/folders/1rQ4UQO0jR3UMPFiPaKTTSWR2AlSY8zux?usp=sharingAbout the Author: Allison Chow, Junior Member at Bay AngelsAllison has been a junior member at Bay Angels since 2023. She is excited about all things business and is currently working on obtaining her degree in Business Administration with an emphasis in finance.