March 25, 2014, San Francisco, California — Silicon Valley-based BootstrapLabs, a global accelerator for foreign technology startups, announced today that it has raised an undisclosed amount of growth capital from strategic investors, angels and successful entrepreneurs including New Age Ventures, Citizen.VC and EON Venture among others, to scale its operations internationally and back more foreign founders in Silicon Valley each year.
Nicolai Wadstrom, a serial entrepreneur, startup founder, CEO/CTO, developer and angel investor, founded BootstrapLabs in 2009 to assist talented and ambitious foreign entrepreneurs to relocate their startups to in Silicon Valley and build global companies. Benjamin Levy, a French born entrepreneur and investment banker, joined him as a Partner and Co-Founder in 2012 to start building bridges beyond Europe, where BootstrapLabs had been primarily sourcing startups for the first few years. Today, BootstrapLabs receives applications and referrals from over 40 countries and last year launched local accelerator programs in South East Asia and Korea.
BootstrapLabs plans to use the capital to scale its operation in Silicon Valley and reinforce its international presence in key geographic areas where talent abounds but local and regional opportunities are limited for a number of reasons; capital often not being the primary one.
“As an entrepreneur, I know first hand the road can be lonely sometimes, and having the right people with the right mindset around you makes a world of a difference. Over the past 20 years I spent as an entrepreneur and angel investor in Europe and North America, I observed the patterns that made it clear to me why Silicon Valley is by far the most dynamic environment for technology entrepreneurs to successfully build and scale companies to a globally footprint” – said Nicolai Wadstrom, Founder of BootstrapLabs
Among its first portfolio companies, BootstrapLabs supported Prezi, a cloud-based presentation software company from Budapest, Hungary. From a 5 person team with a software and a few users at the time, BootstrapLabs was instrumental in convincing the founders to make the jump to Silicon Valley and assisting the company figuring out their scalable product/market fit while connecting to this new ecosystem. Early profitability helped Prezi gain momentum and a growth round from Accel Partner enabled the company to further accelerate its international expansion. Prezi is now a global company with 200 employee (150 back in its wholly-owned subsidiary in Budapest), 38 million users, growing at 1 million users a month, and healthy business model that’s allowed the company to grow its bank account rather depleting the funding.
“As a foreign founder, you can fly yourself to Silicon Valley and try to figure it out, but if you are serious about stacking the odds of success in your favor in the world’s most competitive market, you want the BootstrapLabs guys on your side” said Peter Arvai, CEO and Co-Founder of Prezi.
BootstrapLabs will also accelerate its foray into Global Innovation Discovery and continue to partner with large corporations that more aggressively seek knowledge, access and take a collaborative approach to new product development with the startup community. “Innovation is top of mind these days for most senior executives at large corporations and BootstrapLabs can provide a unique pre-screened window into this world of potentially disruptive early stage technology companies globally” said Benjamin Levy, Partner and Co-Founder of BootstrapLabs.
BootstrapLabs runs a 6+6 month hands-on accelerator program in Silicon Valley tailored for foreign startups. We focus on technology startups with global potential and assist them building disruptive companies by relocating to Silicon Valley, while maintaining their roots in their country of origin. Our approach is focused on relationship building and fast execution to accelerate equity value creation. We connect founders to industry thought leaders, strategic partners and smart investors in our network to ensure their long term success. Since 2009, BootstrapLabs has helped foreign startups such as Prezi, AudioDraft and Zerply connect and relocate to Silicon Valley for good, while maintaining offices in their home countries.
- Nicolai Wadstrom, Founder, email@example.com, +1-415-935-1469
- Ben Levy, Partner & Co-Founder, firstname.lastname@example.org, +1 415 742 1517