Funding Fun

AxialMarket, an Online Network for Deal Professionals, Raises $6.5M

Peter Lehrman, AxialMarket's CEO (

Here’s a quickie for your Tuesday evening: AxialMarket, an online network that connects potential buyers and sellers of private businesses, has raised $6.5 million, according to a Form D filed with the SEC.

According to Crunchbase, AxialMarket is an amalgam of corporations and investment companies that join the platform “to source deals, communicate and promote their firm’s acquisition and investment identity, and uncover opportunities to collaborate with other members.”

The company has largely managed to skirt an overabundance of hype while quietly collecting over 7,000 qualified members on their platform. Perhaps it’s because their idea isn’t as sexy as “sweet delivery spectacles” or “broadcast TV on your laptop.” But with $6.5 mil of fresh dough in their pockets, seems like it’s working out just fine.

Funding Fun

Investors Get In Bed with

Diego Saez-Gil,'s cofounder and CEO

Everyone knows that opting for hostels instead of hotels can save you tons of money on travel costs, but for the more anxiety-prone among us, sometimes the fear of having to sleep three feet away from a stranger can outweigh a hostel’s benefits., a New York-based social booking site for hostels, beds and couches, wants to take the terrifying mystery out of hostel stay by allowing users to meet and interact with others who will be traveling and staying in the same hostels. Read More


Brooklyn-Based SocialGuide, a TV Guide for the Twitter Era, Is Raising a $500K. Debt Round

Screen shot 2012-01-29 at 4.35.04 PM

SocialGuide, a startup that determines what TV shows and movies are popular by combing Twitter and Facebook, is in the process of raising a $500,000 debt round, according to the company’s latest SEC filing via The first sale of securities, which includes both “debt” and “option, warrant or other right to acquire another security,” was on January 17th. SocialGuide has already raised $400,000 from 10 investors towards the round, with $100,000 to go.

“We are in a position as a company where we’re looking to achieve profitability over the next two quarters,” CEO and founder Sean Casey told Betabeat by phone. “We decided to put together a note that will help us get there. It was just the right financing.”

The Brooklyn-based service, located at 68 Jay Street in Dumbo, bills itself as “the first real-time Social Programming Guide.” By ranking what’s popular on social networks, according to keywords counts, and then surfacing “the shows that your friends are talking about,” the company is able to recommend what’s worth watching. No more hearing about the “Downtown Abbey” Christmas special a week after everyone else tumbled their favorite Dowager Countess-isms. In September, SocialGuide, which previously went by the name Talkwit, introduced a similar service for movies, which is currently in beta.

But its real value may be in data it collects about the budding field of social TV. Read More

Venture Capitalism’s Secret Sauce for Raising $40 M.? Show Them Your Data and Don’t ‘Slut Around’

Mr. Goldberg. (

For any startup looking to raise venture funding–or even VCs trying to figure out what entrepreneurs want (where is Mel Gibson on that, anyways?)–Jason “Prince of Pivoting” Goldberg offers a transparent look at how he went about raising $40 million for led by the likes of Andreessen Horowitz.

In Mr. Goldberg’s case, he faced the added pressure of not having time to go through the usual dog-and-pony show during the run-up to’s first ever holiday season. (Yes, that’s right, that $40 million came just six months after the company swerved from a gay social network to a flash sales site for design.)

So the serial entrepreneur decided to do things a little differently. Read More

Always Be Hustlin'

What Happens The Day After You Get Funded?

Day after funding grin?

If Betabeat just closed a $350,000 round of funding from folks like Dave McClure, Eric Ries and Esther Dyson, we’re pretty sure we’d spend the next day hungover trying to form our piles of cash into a Scrooge McDuck-like money pool.

Not so Tout founder Tawheed “TK” Kader, whose app attempts to solve the problem of repetitive email. “Its that magical moment right? Its what you’d been waiting for right? The press starts writing about you, the congratulations come flying in. You’ve made it. Right? Wrong.” Read More

Location Based

Will Adreessen Horowitz Back Foursquare’s New Round?

According to a report in the Wall Street Journal, Foursquare is looking to raise an additional $20-40 million this summer at a $500 million valuation.

Betabeat chatted with several sources this week who suggested that the company would definitely be returning to previous backers Union Square Ventures and Adreessen Horowitz for some of this new capital.

Dennis Crowley just got back from a West Coast tour where he visited Apple and was spotted dining with Google. Today Foursquare’s head of recruiting checked in along Sand Hill Road at Andreessen Horowitz.

Got any more insight? Read More