Clearbanc, the largest eCommerce investor has rebranded itself to Clearco. The company has revolutionized the way startups grow their businesses and have even raised a fund of $100 million in a new Series C equity funding recently. The valuation of the largest e-commerce investor now mounts to almost $2 Billion as per mascarenhastechcrunch. The company rebranding to Clearco reflects its evolution from a source of capital for startup founders to a broader platform for product and service growth. Clearco, with its unique proprietary algorithm, commits to fueling entrepreneurship outside the traditional network and regions.
Contrary to the global VC funding that dropped by 27% for female founders in 2020, Clearco claims to have funded eight times as many companies led by female founders. Not just this, 13% of the company’s funding went to the organizations headed by Black and LatinX founders which is way more than 2.6% of funding offered by traditional VC firms.
Clearco follows the algorithm of “spread the wealth geographically”. On contrary to this, around 80% of the funding offered by VC firms went to only four tech hubs namely Texas, California, New York and Massachusetts. While Clearco has funded the companies in all the 50 US states and all across the Canadian as well as the UK provinces.
Clearco offers the following tailor-made services that can help the founders in retaining ownership of their startups:
- ClearCapital for eCommerce founder: the signature 20-minute term sheet offers marketing growth capital that ranges from $10K to $10M.
- ClearRunway for SaaS founder: this product uses data science to predict up to 24 months of the future revenue at a discounted amount today.
- ClearValuation: this is advanced data science that expands Clearco’s product beyond the capital. It even provides a free valuation to founders. Eventually, it offers insights and recommendations to increase the company’s value and connect with investors.
- ClearAngel: this provides early-stage founders access to revenue share capital and data-driven advice.
Clearco boosts of having developed a technology that can identify promising businesses regardless of who the founder is or the geographical location of the company. It supports the founders right from the start and looks forward to accelerating their support.