An Estonia-based startup, Funderbeam, aims to offer a suite of low-cost startup-discovery and analysis tools, launching €39-€99 monthly subscriptions that serve angel investors, prospecting consultants, and bootstrapping startups.
“For most angels, consultants, and others, chatting up every interesting startup is humanly impossible. It’d also be a massive waste of founders’ time,” Funderbeam founder and CEO, Kaidi Ruusalepp, said. “So, to find any relevant startup data, people scour the web for bits and pieces and still go home hungry. We think it’s time to retire this hunter-gatherer style of collecting intelligence.”
The company was built with €650,000 in seed funding and has 70,000 startups and 600,000 mapped competitors in its database. The firm is set to close another funding round next month.
According to Funderbeam, the company’s team of 12 spent a year of cleaning and organising data, testing models and tweaking algorithms that help triangulate missing information. “It helps people discover and track startups that fit their interests, supported by smart estimates, analysis, and benchmarking of various performance data,” the founders said.
Funderbeam says its ambition is to grow into a marketplace for early-stage investments. “For that to happen, startups need to become more transparent first. Achieving that requires cleaner, more reliable data, better analytics – and being user-friendly to us mortals behind these glowing screens.”